Washington Post announces buyouts to cut staff by 240
News of the buyouts follows prior layoffs at the paper and comes amid projections of substantial losses.
The Washington Post is moving to reduce its headcount by roughly 240 personnel and will offer voluntary buyouts to achieve that goal instead of more conventional layoffs.
Interim CEO Patty Stonesifer wrote to staff on Tuesday confirming the plan and blaming the necessity of the move on "overly optimistic" revenue and traffic projections. The paper currently employees roughly 2,500 people and members of select departments will receive the buyout offers.
News of the staff reduction follows prior layoffs at the paper and comes amid projections of substantial losses, which The New York Times has suggested could reach $100 million for the year.
"The urgent need to invest in our top growth priorities brought us to the difficult conclusion that we need to adjust our cost structure now," Stonesifer told employees.
The Post is not the only media outlet to struggle in recent months. National Public Radio in February announced a 10% reduction in its workforce while CNN, in late 2022, announced its own layoffs.
Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.