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. That agreement is subject to union ratification,” she wrote.
Veerasingham wrote that less than half of the 8% staff reductions will impact the news division.
Her complete memo is below:
Dear AP Staff:
I’m writing to update you on some steps we are taking to ensure AP’s position as the world’s most trusted source of independent, fact-based, nonpartisan journalism.
As a not-for-profit news organization, AP has been independent and free from influence for nearly two centuries. We have persevered not by chance, but by being intentional about adapting to industry changes.
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.
Doing so will require making some difficult changes so we can invest more fully in our future. The bulk of the changes will come in the U.S., where we remain committed to our 50-state footprint but must evolve to align with changing customer and market needs.
We will offer a voluntary separation plan 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. That agreement is subject to union ratification. If you are eligible for the voluntary plan, you will be notified via email by the end of the day.
Additionally, as we modernize our products and operations, we will eliminate some positions across the organization.
In total, these changes make up about 8% of our workforce, with less than half impacting the news division. If you are impacted by the staff reductions you will be notified over the next few weeks.
I know this is difficult news, and there will be a period of uncertainty as we work through these changes. We are communicating about these actions now because transparency is a core value of this organization. The AP leadership team is committed to supporting our affected colleagues and working quickly and thoroughly to limit uncertainty as much as possible.
Answers to some frequently asked questions are available on InsideAP. If you have additional questions, please reach out to your department leadership or HR.
Amid the changes outlined today, I want to underscore the transformative work underway across the organization, such as:
- Creating digital-first journalism. We saw how crucial this was in our coverage of the U.S. elections, where the usage of our live video, data, outstanding visuals and engaging interactives was unprecedented.
- Launching The Associated Press Foundation for Journalism to address news deserts in the U.S.
- Growing new revenue streams to support AP’s mission.
We are moving forward in new and exciting ways, and I am deeply grateful for your hard work and relentless commitment to AP. Evolving as an organization is not easy but it is necessary.
Throughout this process – as in everything we do – we will be guided by our mission, our values and our unwavering commitment to AP’s future.
Sincerely,
Daisy
