WASHINGTON — The Washington Post announced it plans another round of buyouts in its newsroom and throughout the newspaper as it seeks to cut costs.
It is the fourth round of buyouts at the newspaper since 2003. About 230 employees, including some of the paper's most famous names, took the most recent buyout offered last year.
In a memo to employees, Publisher Katharine Weymouth said buyouts are needed because revenue is dropping. Increases on online advertising are not making up for losses on the print side.
The buyouts will be targeted in the paper's production and circulation departments as well the newsroom.
Weymouth said layoffs are possible if too few people volunteer for the buyouts.