Politico Lays Off 3% of Staff, Offers Buyouts to Several Newsroom Divisions
While “change is uncomfortable,” global editor-in-chief John Harris tells staff, the moves “also represent continuity”
Politico is laying off 3% of its staff, a source familiar with the matter told TheWrap.
The layoffs are expected to only affect 10 people in its newsroom, but more journalists may still exit the publication. The company plans to offer employees in several newsroom divisions a voluntary separation package, global editor-in-chief John Harris told staff in a memo on Tuesday, according to Semafor.
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.