Earlier The Washington Post announced that it would offer voluntary buyouts to 240 staff members in an attempt to strengthen the “financial health” of the organization.
However, just 120 employees have accepted the buyout package.
Interim CEO Patty Stonesifer wrote in a memo to staff:
“We want everyone to understand that we need 240 acceptances to help restore The Post’s financial health. We have made the decision, if we fall short of this goal, to implement involuntary layoffs in those areas where we have already identified that positions do not need to be replaced, where work can be reassigned more efficiently or where we can otherwise achieve cost savings.
“These layoffs would offer significantly less generous benefits than the voluntary package and will be consistent with prior layoff packages at The Post.”
The deadline to accept the buyouts for non-union employees is Dec. 11, while employees belonging to the Post Guild have until Dec. 15.
Read more here.
