Home » US business news • US Employment News » The Washington Post warns employees of more job cuts in the new year
The Washington Post warns employees of more job cuts in the new year
https://www.whatjobs.com/news/usa/us-business-news/the-washington-post-warns-employees-of-more-job-cuts-in-the-new-year
By Nithya Bose in US business news, posted December 15, 2022
The Washington Post will continue to cut jobs in the coming year, publisher Fred Ryan announced in a staff meeting.
The layoffs would affect only a single-digit percentage of employees and does include some newsroom roles.
Mr. Ryan said cuts won’t largely hit the newsroom staff as the reductions would be balanced by recruiting in other areas.
He added that the company is now looking to focus on other coverage areas.
READ MORE: CNN BOSS WARNS EMPLOYEES OF IMMINENT LAYOFFS IN $1 BILLION COST-CUTTING PLAN
Mr. Ryan exited the stage without responding to follow-up questions from staff at the end of the heated town hall meeting.
The company said layoffs were part of a goal to “invest in coverage, products, and people in service of providing high value to our subscribers and new audiences.
“The Washington Post is evolving and transforming to put our business in the best position for future growth.”
READ MORE: CISCO REPORTEDLY STARTS LAYOFFS AFFECTING 4,000 STAFF
Mr. Ryan said in an email to employees the news would “understandably generate a great deal of uncertainty across our organization.”
The media giant has had a difficult time growing its digital subscriber base to levels seen during the Trump presidency.
It is also dealing with an ad market slowdown that has hit businesses across the publishing sector.
Need Career Advice? Get employment skills advice at all levels of your career
The Post has also revealed plans to cancel the print edition of its magazine.
Several employees got hacked off by its management, opposing the work-from-home policy and voicing concerns about its business strategy.
The news comes amid a deteriorating economic climate which prompted many media firms like CNN, Gannett, and Vox Media to axe jobs.
Source: The New York Times
Follow us on YouTube, Twitter, LinkedIn, and Facebook
