The Washington Post has announced they will cut about ten percent of the paper's workforce via voluntary buyouts:
The Washington Post plans to cut 240 jobs, or almost 10% of its workforce, through voluntary buyouts.
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 on Tuesday. "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.
The Post is expected to lose $100 million this year alone:
10 years after The Washington Post was purchased by Amazon founder and billionaire Jeff Bezos, the outlet is "on a pace to lose about $100 million in 2023," according to a recent New York Times report.
Bezos took over the Post for $250 million in 2013, in one of the most significant media acquisitions of the last decade. The Post’s famous saying, "Democracy Dies in Darkness," became the official slogan of the paper in 2017, under Bezos’ watch.
"Democracy Dies in Darkness" is a tagline that has been mercilessly mocked as it became clear the Post's business model was to push narratives and not objective reporting.
Glenn Greenwald has examined the Post's partial collapse, starting with their dependence on pushing hysteria about Trump:
Despite being funded and owned by one of the 5 richest people on the planet, Jeff Bezos, the Washington Post has had significant drops in their readership and subscription base, and as a result is laying off 240 employees: 10% of its staff.
— Glenn Greenwald (@ggreenwald) October 11, 2023
It lost $100 million this year alone. https://t.co/9dbAAnZMXB
Now THAT is a drop.
When Trump left the White House, he predicted that media outlets -- which succeeded ever since he emerged -- would suffer.
— Glenn Greenwald (@ggreenwald) October 11, 2023
That ended up being true. WPost reported in 2021 that cable audience have collapsed, and NYT says Post's troubles are linked to Trump's departure. pic.twitter.com/DT0h8gsFhl
Just as is true of wars, few people benefit more from Trump than those at cable news outlets and other media corporations. They pray for his visibility.
— Glenn Greenwald (@ggreenwald) October 11, 2023
This also explains why these media corporations so viciously attack independent media: which is thriving at their expense.
This kind of "journalism" certainly hasn't helped the Washington Post:
— Glenn Greenwald (@ggreenwald) October 11, 2023
Ironically we're guessing some of the biggest hacks at the WaPo will not be losing their jobs.
NYT is doing fine financially, right? Confirms my sense that online newspapering is a natural monopoly of sorts; there can only be one profitable newspaper and the NYT managed to become it.
— Wesley Yang (@wesyang) October 11, 2023
I would, though, also say that of all the big papers, the WashPost went the furthest in becoming a barely disguised arm of the DNC and spokespeople for the US Security State against Trump. Their "fact-checkers" are all-but-declared DNC operatives, as partisan as Maddow.
— Glenn Greenwald (@ggreenwald) October 11, 2023
The term "Washington Post fact-checker" has become a joke, as have a lot of their headlines and stories.
How could this happen? pic.twitter.com/Il8nqmoKt0
— Big Fish (@BigFish3000) October 11, 2023
people don't feel the need to subscribe to lies, government propaganda, and news that berates normies
— J Mathews (@OldandUnpopular) October 11, 2023
Awesome, great news for the future of journalism
— Christopher F. Rufo ⚔️ (@realchrisrufo) October 12, 2023
Why pay for deep state propaganda when you can get it for free everywhere else? https://t.co/aEs13kJLUE
— Tony Heller (@TonyClimate) October 11, 2023
Right!?
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