Washington Post implements layoffs as flagging publisher struggles to achieve profitability
The Washington Post is implementing a round of layoffs, eliminating a quarter of its standalone software unit as the paper struggles to turn around its failing business model.As reported by The Wall Street Journal, the layoffs are hyper-focused on staffers working on Arc XP, the Post's in-house publishing tool also used by outside media and non-media businesses, including Reuters, The Boston Globe, BP and the Golden State Warriors.The layoffs are set to impact roughly 54 full-time staffers. In a memo obtained by the Journal, Arc XP president Matt Monahan told staffers, "To continue this leadership amidst a new wave of change within our industry requires us to act with urgency and think differently."WASHINGTON POST STAFFERS GRUMBLING ABOUT ‘CHAOTIC AND TURBULENT PERIOD’ AT BEZOS PAPER AFTER FORCED BUYOUTS"This decision will help us align to a plan for the future that is both ambitious and achievable," he added.The Washington Post did not immediately respond to Fox News Digital's request for comment. The layoffs come less than a year after the Post implemented buyouts in an attempt to prevent mass layoffs, resulting in roughly 240 staffers voluntarily leaving the "Democracy Dies in Darkness" paper. It was reported last year that the Jeff Bezos-owned paper was set to lose $100 million in 2023.Earlier this year, the Post's new publisher and CEO William Lewis ruffled feathers in the newsroom when he offered a blunt message about how dire their financial situation was. "We are going to turn this thing around, but let’s not sugarcoat it. It needs turning around," Lewis told the paper. "We are losing large amounts of money. Your audience has halved in recent years. People are not reading your stuff. Right. I can’t sugarcoat it anymore."WAPO BOSS SOUNDS ALARM OVER DWINDLING AUDIENCE IN HEATED STAFF MEETING: ‘PEOPLE ARE NOT READING YOUR STUFF’CLICK HERE TO GET THE FOX NEWS APP
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings