4 sources·Business

Associated Press Plans 8% Workforce Reduction Amid Industry Challenges

The Associated Press will cut 8% of its workforce through buyouts and layoffs, shifting towards a digital-first model amidst ongoing industry challenges.

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Updated: Nov 18th, 2024, 7:51 PM ET

Summary

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The Associated Press announced plans to reduce its workforce by 8% as it transitions to a digital-first organization. This decision follows industry-wide challenges and declining revenues. Eligible employees will receive buyout offers with severance and health coverage, while layoffs will affect various roles across the organization. AP aims to adapt to changing audience needs and enhance its digital content offerings, responding to shifts in media consumption and market dynamics.

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