Dec 19, 2023 - Economy

Washington Post finishes voluntary buyouts to meet job cut goal

Photo: Celal Gunes/Anadolu via Getty Images

The Washington Post has met its headcount reduction goal through voluntary buyouts, interim CEO Patty Stonesifer said in a note to staff on Tuesday.

Why it matters: The cost-cutting plan came in the wake of a brutal financial year for the paper and ahead of the official start of a new CEO.

Flashback: In October, the Post announced its plan to eliminate 240 jobs through voluntary separation packages. The company already had cut 20 positions, axing its gaming vertical and kids section, back in January.

  • Earlier this month, about 750 Post staffers participated in a 24-hour strike after the paper's management and The Post Guild failed to agree on a contract after 18 months of negotiations.

Details: In a note to staff Tuesday morning, Stonesifer said the company "will enter the new year with a smaller organization but a better financial position."

  • "I am very aware of how difficult this process has been for everyone involved and I want to thank you for the grace and respect you have shown at every step," the note said.
  • A Post spokesperson did not immediately respond to a request for comment on the final number of buyouts.

What's next: William Lewis starts as CEO on Jan. 2. He previously served as CEO of Wall Street Journal parent Dow Jones.

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