Even as word gets out that Washington Post Co. CEO Donald Graham got a sweet bonus last year despite the company’s struggles (and 18 year freeze on his salary) Politico is reporting that more buyouts and possibly layoffs are on the way for the paper.
The buyout offer — dubbed the Voluntary Retirement Incentive Program (VRIP) — is a bit different than last year’s. Only employees in certain departments will be eligible. Employees who are eligible, and meet the requirements — over 50 years old with at least five years experience — will be receiving packets soon.
Weymouth mentioned that if the Post doesn’t “achieve meaningful staff reductions,” there could be layoffs in the future. Brauchli wrote that these are “difficult and uncertain times in our profession.”