Wash. Post to offer buyouts
The Washington Post will offer another round of buyouts - the fourth since 2003 - due to decreasing revenues, according to reports from the Associated Press.
It's unclear how many buyouts will be offered, but the story says about 230 employees took the buyout offered last year.
From the story:
It's unclear how many buyouts will be offered, but the story says about 230 employees took the buyout offered last year.
From the story:
In a letter to shareholders dated Feb. 24, company Chairman and former Post Publisher Don Graham said the paper "will lose substantial money in 2009" and that he is willing to let it do so as long as it shows a plan to return to profitability. He noted that the paper carried the Kaplan unit throughout much of the 1990s when it was losing money. "Today it isn't obvious that even the best-run, most successful newspaper can be consistently profitable. But the Post will get every chance," Graham wrote.

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