Washington Post implements layoffs as flagging publisher struggles to achieve profitability
The Washington Post is further shrinking its workforce by laying off a quarter of its Arc XP software unit less than a year after implementing mass buyouts.
The Washington Post is implementing a round of layoffs, eliminating a quarter of its standalone software unit as the paper struggles to turn around its failing business model.
As reported by The Wall Street Journal, the layoffs are hyper-focused on staffers working on Arc XP, the Post's in-house publishing tool also used by outside media and non-media businesses, including Reuters, The Boston Globe, BP and the Golden State Warriors.
The layoffs are set to impact roughly 54 full-time staffers.
In a memo obtained by the Journal, Arc XP president Matt Monahan told staffers, "To continue this leadership amidst a new wave of change within our industry requires us to act with urgency and think differently."
"This decision will help us align to a plan for the future that is both ambitious and achievable," he added.
The Washington Post did not immediately respond to Fox News Digital's request for comment.
The layoffs come less than a year after the Post implemented buyouts in an attempt to prevent mass layoffs, resulting in roughly 240 staffers voluntarily leaving the "Democracy Dies in Darkness" paper.
It was reported last year that the Jeff Bezos-owned paper was set to lose $100 million in 2023.
Earlier this year, the Post's new publisher and CEO William Lewis ruffled feathers in the newsroom when he offered a blunt message about how dire their financial situation was.
"We are going to turn this thing around, but let’s not sugarcoat it. It needs turning around," Lewis told the paper. "We are losing large amounts of money. Your audience has halved in recent years. People are not reading your stuff. Right. I can’t sugarcoat it anymore."
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