16 Newsweek Employees Taking Buyout
Newsweek has started to settle in after its merger with The Daily Beast and redesign by Tina Brown, but another batch of employees is heading for the door anyway.
In February, the magazine offered buyouts to 30 editorial staffers. Sixteen have decided to take it. Newsweek offered the buyout to about a third of its 90 Newspaper Guild-covered staff in an effort to reduce its financial losses. Newsweek didn’t have a target number of people it sought to cut, but the buyout response was higher than expected, which could eliminate the need for further layoffs.
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