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Washington Post to reduce workforce by 4% amid financial struggles

share-iconWednesday, January 08 comment-icon2 weeks ago 7 views
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reutersREUTERS
Washington Post to reduce workforce by 4% amid financial struggles

Credited from: REUTERS

  • The **Washington Post** has announced it will lay off **around 4% of its workforce**, totaling less than 100 employees, to reduce costs.
  • This decision comes as the newspaper faces **growing financial losses**, with a reported loss of **$77 million in 2023**.
  • Changes are being made across various business functions, but the job cuts are reported to **not impact the newsroom**.
  • The newspaper has struggled due to a **decline in digital readership** and competitiveness in the market since the rise of the internet.
  • In 2023, The Post had previously offered **voluntary buyouts** leading to a reduction in newsroom size by about 10%.

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