Home › DMW Daily › March 26, 2009

Washington Post to Again Offer Employee Buyouts

Authored by Mark Hefflinger on March 26, 2009 - 9:38am.
Washington - For the second time in a year, The Washington Post said on Thursday that it plans to offer many of its employees buyouts in an effort to reduce costs in the face of declining circulation and ad revenue.

Last year, more than 200 employees took the buyouts, which again are being offered to workers over the age of 50 with at least five years at the paper.

Post publisher Katharine Weymouth said that the latest program will be limited to "areas where positions do not need to be replaced or where we can otherwise achieve costs," including the newsroom and the production and circulation departments.

Those accepting the offer will receive lump-sum payments of up to one and a half times their annual salaries, depending on how long they've been with the company.

 

Related Links:
http://snipurl.com/emgdb (Washington Post)

Published in DMW Daily, March 26, 2009
tags: Newspapers | Layoffs | Publishing | Washington Post |



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