Shruti Rajkumar is a reporter at HuffPost, covering breaking news, politics, race and disability.
In an email sent to employees on Tuesday, interim CEO Patty Stonesifer explained that the Post had been “overly optimistic” about its subscription, traffic and advertising projections over the past two years, the news outlet said.“The urgent need to invest in our top growth priorities brought us to the difficult conclusion that we need to adjust our cost structure now,” Stonesifer said in the email, according to the Post.
The company decided to opt for voluntary buyouts, which will be offered for specific jobs and departments, as a way to avoid potential layoffs. T More details about the buyout will reportedly be provided during a staff meeting scheduled for Wednesday at 10 a.m. “To be clear, we designed this program to reduce our workforce by approximately 240 employees in the hopes of averting more difficult actions such as layoffs – a situation we are united in trying to avoid,” Stonesifer wrote., with at least 17,436 job cuts announced by June. News outlets such as Vox Media, NPR and the Los Angeles Times announced plans to significantly reduce their workforces in 2023, while BuzzFeed, HuffPost’s parent company, shut down its entire news division this year.
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