Washington Post cuts 240 jobs through voluntary buyouts: NPR

People enter the Washington Post headquarters. The newspaper is cutting approximately 10% of its jobs through voluntary buyouts.

Eric Pradat/AFP via Getty Images

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Eric Pradat/AFP via Getty Images

People enter the Washington Post headquarters. The newspaper is cutting approximately 10% of its jobs through voluntary buyouts.

Eric Pradat/AFP via Getty Images

Washington Post The company announced Tuesday that it plans to cut 240 jobs, or roughly 10% of its workforce, through voluntary buyouts.

the post It was “overly optimistic” about its growth in readers, subscriptions and advertising over the past two years, interim CEO Patty Stonecipher wrote in an email to employees. “We are working on ways to get our business back to a healthier place next year.”

Stonesifer said voluntary buyouts will be offered to employees in specific roles. The roles were not mentioned.

“To be clear, we designed this program to reduce our workforce by approximately 240 employees in hopes of avoiding more difficult actions such as layoffs — a situation we are united in trying to avoid,” she said.

This is the second – and much larger – reduction in staff numbers at the post this year. In January, it cut its Sunday magazine and a number of jobs elsewhere at the company, which is owned by Amazon founder Jeff Bezos. (the post She reported this herself 50 jobs were eliminated.)

Publisher Fred Ryan left in June after questions about his handling of the newspaper’s finances and conflict with newspaper management. Supports Labor unions have reported tensions with Executive Editor Sally Buzbee, who Bezos appointed in 2021.

This has been a tough year for the media industry. NPR has laid off approximately 10% of its staff This spring, due to an expected shortfall in revenue. Other media outlets that have announced severe layoffs include Gannett, CNN, Los Angeles Times And Fox Media.

Stonecipher said mail She will share more details with staff at a meeting Wednesday morning.