Washington Post offering buyout to news staff

Feb 08, 2012
The Washington Post offices are seen in Washington DC in 2009. The Washington Post announced a voluntary buyout for some newsroom staff on Wednesday, citing the difficult economic climate for the newspaper industry.

The Washington Post announced a voluntary buyout for some newsroom staff on Wednesday, citing the difficult economic climate for the newspaper industry.

"Our objective is a limited staff reduction that won't affect the quality, ambition or authority of our journalism," Washington Post Marcus Brauchli said in a memo to Post employees.

"We believe this is possible, given the changes in how we work and the great successes we have had building our digital readership lately," Brauchli said in the memo obtained by AFP.

The voluntary buyout offer will not be extended to all departments of the newsroom and will be capped "in order to moderate the impact and preserve our competitiveness in core coverage areas," he said.

"We may turn down some volunteers if we feel their departure would impair our journalism," Brauchli said. "That said, it is important that we achieve real savings."

Like other US newspapers, the Post has been grappling with declining print and circulation and the migration of readers to free news online.

The buyout offer is the fifth at the Post in recent years.

The management memo did not set a for the number of departures but the newspaper's ombudsman, Patrick Pexton, said on his Twitter feed it would be capped at 48 people, or around eight percent of the newsroom staff of 600.

"Any measure like this is difficult," Brauchli said. "But we believe this approach is a sensible and effective way of addressing the economic forces affecting our industry."

"The Post's newsroom remains formidable, and we will continue making tactical hires so that even as we get smaller, we get stronger," he said.

Reporting its third-quarter earnings in November, the Post Co. said revenue at the newspaper plunged 20 percent to $57.6 million and was down 13 percent overall for the first nine months of 2011.

Online revenue from WashingtonPost.com and Slate.com fell 14 percent to $23.3 million in the quarter and was seven percent lower for the first nine months of 2011.

Average daily circulation of The was 518,700 during the first nine months of the year and average Sunday circulation was 736,800.

Post Co. shares were up 1.04 percent at $387.30 on Wall Street on Wednesday.

Explore further: Ex-Apple chief plans mobile phone for India

add to favorites email to friend print save as pdf

Related Stories

Washington Post profit down 67 percent

May 06, 2011

The Washington Post Co. said Friday that revenue was flat in its newspaper publishing division in the first quarter but net profit fell by two-thirds on lower enrollment in its education business.

NY Times, Washington Post to cull staff

Mar 26, 2009

The New York Times and Washington Post, two of the most prestigious titles in American journalism, plan another round of pay cuts, layoffs and buyouts amid a steep decline in advertising revenue.

Washington Post stems tide of red ink

Jul 31, 2009

The Washington Post Co. reversed its slide and posted a quarterly profit on Friday despite a steep decline in advertising revenue at its flagship newspaper.

Cost-cutting at NY Times, reorganization at WPost

Apr 16, 2009

The New York Times unveiled plans on Thursday to eliminate several weekly sections of the newspaper in the latest cost-cutting move at the prestigious but financially troubled daily.

Washington Post axes national weekly edition

Aug 10, 2009

The Washington Post is axing its national weekly edition, a publication featuring a selection from the daily newspaper whose circulation has dropped from 150,000 a decade ago to just 20,000 today.

Recommended for you

Ex-Apple chief plans mobile phone for India

3 hours ago

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

16 hours ago

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

US venture investments highest since 2001 (Update)

Apr 18, 2014

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

User comments : 0

More news stories

Ex-Apple chief plans mobile phone for India

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

Health care site flagged in Heartbleed review

People with accounts on the enrollment website for President Barack Obama's signature health care law are being told to change their passwords following an administration-wide review of the government's vulnerability to the ...

A homemade solar lamp for developing countries

(Phys.org) —The solar lamp developed by the start-up LEDsafari is a more effective, safer, and less expensive form of illumination than the traditional oil lamp currently used by more than one billion people ...

NASA's space station Robonaut finally getting legs

Robonaut, the first out-of-this-world humanoid, is finally getting its space legs. For three years, Robonaut has had to manage from the waist up. This new pair of legs means the experimental robot—now stuck ...

Filipino tests negative for Middle East virus

A Filipino nurse who tested positive for the Middle East virus has been found free of infection in a subsequent examination after he returned home, Philippine health officials said Saturday.

Egypt archaeologists find ancient writer's tomb

Egypt's minister of antiquities says a team of Spanish archaeologists has discovered two tombs in the southern part of the country, one of them belonging to a writer and containing a trove of artifacts including reed pens ...