The Washington Post will be cutting about 240 jobs, employees were told Tuesday.
Patty Stonesifer, the chief executive officer at the Post, told employees that their hopes for online subscriptions had been “overly optimistic,” according to The Hill.
Stonesifer replaced Fred Ryan as publisher several months after the Post cut about two dozen newsroom staff jobs.
The Post has been retrenching, and last fall killed off its Sunday print magazine.
The Post, in reporting about itself, said about 2,500 people work for the newspaper.
It noted that layoffs have hit multiple media outlets, including CNN, which cut staff in December, Vox Media, which had a 7 percent staff cut last January, and Gannett, which has had multiple layoffs throughout its chain of local newspapers.
The storied @washingtonpost is cutting 240 positions with voluntary packages aimed at preventing layoffs down the line.
‘It is shocking to us and came right out of the blue,’ a staff writer at the Post told The Messenger. by @LilyHMeier https://t.co/Tt1pj4j30U
— Dawn Kopecki (@Dawn_Kopecki) October 10, 2023
A report in The New York Times said the Post is expected to post a loss of about $100 million in 2023, citing sources it did not