Staff Turnover at The Daily Beast Due to Buyouts

SOURCE www.thewrap.com
The Daily Beast is experiencing significant staff turnover due to voluntary buyouts, with nearly 70% of unionized staffers leaving. The outlet is also expecting further layoffs among non-union editorial staff. The Daily Beast Union negotiated the buyouts and a collective bargaining agreement with management.

Key Points

  • Nearly 70% of unionized staffers took voluntary buyouts at The Daily Beast
  • Non-union editorial staff expecting further layoffs
  • Daily Beast Union negotiated buyouts and a collective bargaining agreement

Pros

  • Generous severance offer for departing employees
  • Opportunity for a complete rebuild of the newsroom

Cons

  • Loss of experienced senior staffers
  • Potential negative impact on the outlet's quality and reputation