Poynter faculty

Aug 7, 2024 | poynter.org | Angela Fu |Ren LaForme |Kristen Hare |Poynter faculty

Axios executed its first-ever layoffs Tuesday, cutting roughly 10% of its staff, The New York Times reported. That same day, The Tampa Bay Times announced it was offering buyouts to employees in an effort to reduce its headcount by 20%. The Times will implement layoffs at the end of the month if it does not reach its goal through buyouts. Both news organizations cited industrywide financial challenges for their cuts.