Washington Post Set To CUT Over 200 Workers, Here's Why

The saying goes “go woke go broke!”

Left leaning news outlet The Washington Post is preparing to lay off over 240 employees within the next couple of months.

The major cuts stem after the news outlet was unable to meet its revenue expectations in the past several months.

In a memo the Washington Post’s interim CEO Patty Stonesifer wrote “We have determined that our prior projections for traffic, subscriptions, and advertising growth for the past two years — and into 2024 — have been overly optimistic and we are working to find ways to return our business to a healthier place in the coming year.”

BREAKING: Washington Post to cut 240 positions as Americans turn away from corporate mediahttps://t.co/g9fn6dkHgh

— Jack Poso 🇺🇸 (@JackPosobiec) October 10, 2023

And now for some good news:

Washington Post to cut 240 jobs as publication struggles to grow subscriptions

“The company, which is owned by the Amazon founder Jeff Bezos, is on track to lose roughly $100 million this year…”

Bezos Post has lost 500,000 subscribers since 2020 https://t.co/IMADTF6lAy pic.twitter.com/Kosm1EIjRG

— Prodigal (@ProdigalThe3rd) October 10, 2023

Here’s what The Daily Caller shared:

The Washington Post is preparing to reduce its staff by 240 employees after the outlet did not meet revenue or subscription expectations in the past several months.

Interim Washington Post CEO Patty Stonesifer announced the staffing cut “across all functions” of the paper in a memo sent out to employees Tuesday, according to multiple reports. The newest cut in staff follows suit to the financial burdens and layoffs other corporate outlets have witnessed in the past year, such as NPR and CNN. The Post currently employs roughly 2,500 staff members.

Senior leadership will be offering a voluntary separation package over the next few weeks, according to The New York Times’ Ben Mullin. Stonesifer said the program will “offer generous incentives” to staff in specific departments and roles, and will be awarded based on seniority if the number of volunteers exceeds the 240 figure, Mullin reported.

“Over the last 8 weeks, I have been working with the senior leadership team to review the current state of our business and financial results,” the memo reads, according to Mullin. “We have determined that our prior projections for traffic, subscriptions, and advertising growth for the past two years — and into 2024 — have been overly optimistic and we are working to find ways to return our business to a healthier place in the coming year.”

Washington Post announces announces buyouts to cut staff by 240 | Just The News https://t.co/93qR6ViNJi

— John Solomon (@jsolomonReports) October 10, 2023

Per NPR:

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

The Post had been “overly optimistic” about its growth in readership, subscriptions and ads for the past two years, interim CEO Patty Stonesifer wrote in an email to staff. “We are working to find ways to return our business to a healthier place in the coming year.”

Stonesifer said voluntary buyouts would be offered to employees in specific roles. She did not list which roles.

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