Washington Post announces another buyout program targeting veteran staffers, other departments
The Washington Post announced Monday it was implementing another buyout program, this time targeting veteran staffers and other department employees.
'Today, we are announcing that The Washington Post is offering a Voluntary Separation Program (VSP) to news employees with 10 or more years' service at The Post, as well as to all members of the video department and to all members of the copy desk and sports copy desk,' Washington Post executive editor Matt Murray wrote in a staff memo obtained by Fox News Digital.
The memo stated the move was part of The Washington Post's 'ongoing newsroom transformation efforts aimed at reshaping and modernizing the newsroom for the current environment.'
'Like the rest of our industry, we are adapting to changing habits and new technologies that are transforming news experiences. Even as we have begun creating new departments and welcoming new colleagues, to reach new audiences we must increase our staffing flexibility and expand in areas such as audience data and social video,' Murray continued.
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Murray told staff the buyout program would conclude by the end of July.
'With the VSP, we will no doubt see valued colleagues and friends decide to leave The Post,' Murray wrote.
3 Washington Post executive editor Matt Murray wrote in a staff memo that the company has implemented another buyout program known as the 'Voluntary Separation Program (VSP) to news employees with 10 or more years' service.'
Christopher Sadowski
'But as stewards of this great institution, we all must remain relentlessly focused on bringing engaging and relevant journalism to growing numbers of readers in the formats and ways they want it in 2025. That is an urgent and important task for us given the pace of technological change, the industry's evolving landscape and the ever-present need to produce and promote strong, rigorous and independent journalism.'
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According to a VSP document viewed by Fox News Digital, nine months of base pay would be given to staffers employed for 10-15 years, 12 months of base pay for 15-20-year veterans, 15 months of base pay for 20-25-year veterans and 18 months for anyone who has worked at the Post for more than 25 years.
All of them would also receive 12 months of pay credit in their Separate Retirement Account (SRA).
3 The memo, obtained by Fox News Digital, also reveals that those included in the VSP are the video department, copy desk, and sports copy desk personnel.
The Washington Post via Getty Images
One Washington Post staffer told Fox News Digital that the new buyout program is 'less discerning' than previous rounds of buyouts because of how widespread it is, adding that copy editors are 'always targets' and that they're 'always underperticipated.'
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'Less important who stays or goes. Just want to get the numbers down,' the staffer said.
A spokesperson for The Washington Post told Fox News Digital, 'The Washington Post is continuing its transformation to meet the needs of the industry, build a more sustainable future and reach audiences where they are. This voluntary program is part of our ongoing efforts aimed at reshaping how we deliver world-class news experiences and expand our reach to serve all Americans.'
3 Murray said the buyout program will end by July.
via REUTERS
The 'Democracy Dies in Darkness' paper was hit with layoffs earlier this year and previously implemented buyouts in 2023.
The Post was reportedly expected to lose a whopping $77 million in 2024.
There has been an exodus of talent from the Post in recent months, including several resignations following moves made by the paper's billionaire owner, Jeff Bezos, who halted the Post's endorsement of former Vice President Kamala Harris just days before the presidential election and his initiative announced earlier this year, ordering columns regularly defending 'personal liberties and free markets' and banning viewpoints that oppose them.
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