Interim CEO Patty Stonesifer called The Washington Post “a really good business” that “overshot on expense.” Now the company is reducing staff through buyouts.
“This is a really good business that we overshot on expense,” Stonesifer said at a companywide meeting. “And so we’re trying to right-size that to make sure we can plant the seeds and make the investments in the things that we need.”
After the buyouts, the newsroom will likely have about 940 employees, roughly as many as it did at the end of 2021, according to a person familiar with the buyout discussions who spoke on the condition of anonymity to share information not previously made public.There were indications about a year ago that The Post may have grown too large. Fred Ryan, then the publisher and CEO,
At the staff-wide meeting, Stonesifer said that while the company had broadly projected continued growth, it instead saw major declines across its business. The number of digital subscribers, currently 2.5 million, had dropped more than 15 percent since 2021, and the overall digital audience has declined by 28 percent over the same period.
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