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News agency AP looks to slash nearly one in 10 jobs
The Straits Times
|November 20, 2024
The US-based Associated Press news agency is looking to cut almost one in 10 jobs to slash costs, its management said on Nov 18, as the wire service battles client cancellations and economic challenges.
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In a memo to the AP workforce seen by Agence France-Presse, management said the cuts would affect "about 8 per cent of our workforce, with less than half impacting the news division".
The agency was founded in 1846 and has journalists in nearly 100 countries and all 50 US states, according to its website.
In a note to employees on Nov 18, the AP News Guild said the cuts were the result of revenue declines and would affect the organisation's global bureaus and administrative staff.
The note said as many as 121 employees would be eligible for a buyout package, adding that managers said the buyouts aimed to avoid layoffs.
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