Voluntary buyouts to reduce costs announced by The Washington Post
The Washington Post announced that the company will buy out hundreds of employees in order to be in a better financial position in the upcoming year. The company stated that the revenue and subscription projections for the coming years were too high, and the company is set to lose 100 million dollars this year. Meetings at Washington Post offices around the country will be held to discuss the voluntary buyouts, and employees in specific departments and roles will have the option to choose the buyout offer. This course of action was taken to avoid future layoffs and other deep cost cuts. The Washington Post Guild, the union that represents Washington Post employees, states that the company’s buyouts are due to poor decisions by the company’s upper management. The union has expressed disappointment that bad business choices by the heads of the company will negatively affect hard-working staffers.
See "Voluntary buyouts to reduce costs announced by The Washington Post", Will Sommer, Elahe Izadi, The Washington Post, October 11, 2023