Why Bezos-owned Washington Post is axing 4% of its workforce
What's the story
The Washington Post, a leading US newspaper owned by Amazon founder Jeff Bezos, has announced plans to lay off nearly 100 workers or 4% of its staff.
The decision, which will mostly affect the business side of the publication, comes as part of a strategy to mitigate escalating losses.
The move comes as traditional news outlets face increasing competition from digital platforms for advertising revenue.
Controversy
Bezos's controversial decision and its impact on Washington Post
The layoffs were announced amid internal unrest at the Washington Post, after Bezos's unconventional decision to withhold an endorsement of Vice President Kamala Harris for the US presidential election.
Bezos justified the move in an op-ed, citing concerns over growing public perception of media bias.
However, the action sparked a massive backlash with 250,000 readers canceling their subscriptions in protest.
Departures
Staff departures and conflicts
The fallout from Bezos's decision has also witnessed a slew of high-profile journalists exit the Washington Post.
Investigative reporter Josh Dawsey, who is leaving for The Wall Street Journal, and managing editor Matea Gold, who will be joining The New York Times, are among them.
Tensions further escalated when Pulitzer Prize-winning cartoonist Ann Telnaes resigned, after the newspaper refused to publish her satirical cartoon of Bezos and other moguls kneeling before a statue of President-elect Donald Trump.
Financial woes
Financial struggles and attempts at recovery
In 2023, the Washington Post revealed $77 million in losses and a drop in its website readership.
To combat this, the newspaper had offered its employees voluntary buyouts in a bid to trim its workforce by 10%.
However, despite these efforts, the publication still continues to struggle with financial issues as it adapts to the increasingly competitive world of digital news media.