Patty Stonesifer, CEO of the Washington Post, announced 120 employees at the liberal newspaper have accepted a buyout – voluntarily ending their term of employment. The Bezos-owned corporate news outlet informed staff they would need another 120 employees to accept a buyout over the next two weeks otherwise layoffs will be implemented. The paper is believed to have around 2,500 employees in total.
The buyout package being offered by the Washington Post‘s management is being extended to additional news teams and the acceptance caps increased in the hopes more employees will opt for voluntary separation.
“We want everyone to understand that we need 240 acceptances to help restore the Post’s financial health,” Stonesifer wrote in the memo. “We have made the decision, if we fall short of this goal, to implement involuntary layoffs in those areas where we have already identified that positions do not need to be replaced, where work can be reassigned more efficiently or where we can otherwise achieve cost savings.”
In a memo to staff, Washington Post CEO Patty Stonesifer says 120 employees have accepted buyout packages. If the paper doesn't find another 120 people who will accept buyouts in the next two weeks, it will implement layoffs. pic.twitter.com/ztdZwVz5WD
— Max Tani (@maxwelltani) November 28, 2023
The Washington Post is owned by Nash Holdings, a limited liability company controlled by billionaire Jeff Bezos. The PAC affiliated with Bezos’s Amazon.com contributed over $1 million to Joe Biden’s 2020 presidential campaign, while the company overall donated $1.7 million. Bezos himself personally chipped in $5,000. Former President Donald Trump received just over $160,000 from Amazon.
Employees at the Washington Post contributed just shy of $70,000 to Democrats during the 2020 campaign cycle. Republican candidates received just under $4,000 in total.
Three months ago, former President Trump’s social media site, Truth Social, dropped a $3.8 billion lawsuit against Bezos and the Washington Post after the latter published a report which linked his Truth Social platform to a “porn friendly” bank. The lawsuit alleges WaPo “published an egregious hit piece that falsely accused TMTG of securities fraud and other wrongdoing” and “has been on a years-long crusade against TMTG characterized by the concealment of relevant information in its possession.”