On Tuesday (Jan. 7), the Washington Post announced plans to lay off approximately 4% of its workforce, equating to fewer than 100 employees, as part of a cost-cutting strategy amid growing financial losses.
According to a spokesperson, the layoffs will affect various business functions but are not expected to impact the newsroom. The newspaper, owned by Amazon founder Jeff Bezos, is facing challenges similar to many other news outlets that have struggled to establish a sustainable business model in the wake of the internet's disruption of journalism economics and a significant drop in digital advertising rates.
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Tag:·Washington Post· growing financial losses· cost-cutting strategy· various business functions
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