Associated Press To Cut 8% Of Workforce Via Buyouts

deadline.com:

The Associated Press announced plans to offer buyouts impacting about 8% of its workforce, the latest mainstream news organization to grapple with cost cutting.

Daisy Veerasingham, president and CEO of the AP, wrote in a memo to employees, “We all know this is a time of transformation in the media sector.

Our customers – both who they are and what they need from us – are changing rapidly. This is why we’ve focused on delivering a digital-first news report.

We now need to accelerate on this path.” She wrote that a voluntary separation plan would be offered to “a small number of eligible staff,” based on department, role and length of employment. “We have reached a tentative agreement with the News Media Guild to extend this offer to some union staff in the U.S.