Associated Press cutting staff through buyouts

The Associated Press is slashing a number of jobs as a cost cutting measure, the company confirmed this week.

In a note to staff on Monday, CEO Daisy Veerasingham wrote the AP is will offer “a voluntary separation plan to a small number of eligible staff, based on department, role and length of employment.”

Veerasingham did not specificy how many jobs would be effected.

The AP has reached a tentative agreement with the outlet’s news media guild, Veerasingham said, 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,” she wrote in the memo, a copy of which was obtained by The Hill.

In a statement to The Hill on Monday afternoon, the news company and wire service said the cuts were necessary as part of a broader effort to “adapt to industry changes.”

“We are taking proactive steps, including making some staff reductions, as we focus on meeting the evolving needs of our customers,” the statement read. “This is about ensuring AP’s important role as the only truly independent news organization at scale during a period of transformation in the media industry.”  

The AP is one of several media companies that has been forced to reduce staff amid economic headwinds facing the media business.

In recent months a number of national media organizations and large local newspapers have offered buyouts to journalists, slashed salaries and implemented other cost cutting measures as the end of the year approaches.