The Related Press introduced plans to supply buyouts impacting about 8% of its workforce, the newest mainstream information group to grapple with value reducing.
Daisy Veerasingham, president and CEO of the AP, wrote in a memo to staff, “Everyone knows this can be a time of transformation within the media sector. Our prospects – each who they’re and what they want from us – are altering quickly. That is why we’ve centered on delivering a digital-first information report. We now must speed up on this path.”
She wrote {that a} voluntary separation plan could be supplied to “a small variety of eligible employees,” primarily based on division, function and size of employment.
“Now we have reached a tentative settlement with the Information Media Guild to increase this provide to some union employees within the U.S. That settlement is topic to union ratification,” she wrote.
Veerasingham wrote that lower than half of the 8% employees reductions will affect the information division.
Her full memo is beneath:
Expensive AP Employees:
I’m writing to replace you on some steps we’re taking to make sure AP’s place because the world’s most trusted supply of unbiased, fact-based, nonpartisan journalism.
As a not-for-profit information group, AP has been unbiased and free from affect for practically two centuries. Now we have persevered not by probability, however by being intentional about adapting to business modifications.
Everyone knows this can be a time of transformation within the media sector. Our prospects – each who they’re and what they want from us – are altering quickly. That is why we’ve centered on delivering a digital-first information report. We now must speed up on this path.
Doing so would require making some troublesome modifications so we are able to make investments extra totally in our future. The majority of the modifications will come within the U.S., the place we stay dedicated to our 50-state footprint however should evolve to align with altering buyer and market wants.
We’ll provide a voluntary separation plan to a small variety of eligible employees, primarily based on division, function and size of employment. Now we have reached a tentative settlement with the Information Media Guild to increase this provide to some union employees within the U.S. That settlement is topic to union ratification. In case you are eligible for the voluntary plan, you may be notified through e mail by the top of the day.
Moreover, as we modernize our merchandise and operations, we’ll get rid of some positions throughout the group.
In whole, these modifications make up about 8% of our workforce, with lower than half impacting the information division. In case you are impacted by the employees reductions you may be notified over the following few weeks.
I do know that is troublesome information, and there can be a interval of uncertainty as we work by means of these modifications. We’re speaking about these actions now as a result of transparency is a core worth of this group. The AP management staff is dedicated to supporting our affected colleagues and dealing rapidly and totally to restrict uncertainty as a lot as potential.
Solutions to some steadily requested questions can be found on InsideAP. When you have extra questions, please attain out to your division management or HR.
Amid the modifications outlined immediately, I need to underscore the transformative work underway throughout the group, comparable to:
- Creating digital-first journalism. We noticed how essential this was in our protection of the U.S. elections, the place the utilization of our dwell video, information, excellent visuals and interesting interactives was unprecedented.
- Launching The Related Press Basis for Journalism to handle information deserts within the U.S.
- Rising new income streams to assist AP’s mission.
We’re transferring ahead in new and thrilling methods, and I’m deeply grateful in your arduous work and relentless dedication to AP. Evolving as a corporation isn’t straightforward however it’s vital.
All through this course of – as in every part we do – we can be guided by our mission, our values and our unwavering dedication to AP’s future.
Sincerely,
Daisy