The Washington Publish was once among the best gigs in journalism. Now not.
In a enterprise the place it typically sucks to be an worker (apart from the NY Publish, after all), the “WaPo” as it’s identified in journalism circles, has actually descended into the abyss, On The Cash has discovered.
High reporters need out of what they see as crappy new work circumstances and presumably extra layoffs coming.
It’s a disgrace, after all. The paper and its journalists – suppose Bob Woodward and Carl Bernstein and their dogged pursuit of Watergate – set the gold commonplace for reporting. They’re the rationale so many went into the enterprise, together with yours really.
Positive, Woodward stays on the paper, as do many wonderful reporters. However the decline of print as a viable enterprise mannequin, plus the left-ward lurch of a brand new technology of ink-stained wretch that turns off readers, has decimated readership – and the paper’s steadiness sheet.
The Publish modified palms years in the past from the Graham household to Amazon founder Jeff Bezos. He’s one of many world’s richest males, however he hates dropping cash, individuals who know him inform On The Cash. That features the tens of thousands and thousands a yr he’s sinking into the paper.
Bezos introduced in new administration this yr like writer Will Lewis, a former WSJ alum (the WSJ and the NY Publish share widespread possession) to de-woke the place and assist it on the very least break even. However it’s both not working or not working nicely sufficient to fulfill Bezos’s need to cease throwing good cash after dangerous, folks near him say
That’s why along with monetary self-discipline (some latest layoffs, and presumably extra sooner or later), Lewis is demanding some private self-discipline as nicely.
Since COVID, many reporters have been working from dwelling. Now, the corporate needs them again within the workplace 5 days per week beginning subsequent June, based on an inside memo. Which may even have the impact of culling employees (and chopping these losses) as a result of reporters who dwell within the burbs may simply give up fairly than come again to work in downtown DC.
Resumes have been flying out of the place sooner than Trump can say “they’re eating the cats,” these folks add.
“Work is tense right now,” stated one WaPo reporter. “Everyone is upset that a return-to-office policy is coming. Many don’t live in the area anymore and it’s unclear if they’ll have a job anymore.”
The issue is there aren’t many locations to go.
Reporters are discovering that they’re getting low-balled on salaries as a result of rivals aren’t doing that significantly better and so they see a distressed commerce within the making, the Wall Avenue equal of selecting up expertise throughout a firesale.
A WaPo press official had no fast remark.
