The Washington Post lost more than $100 million last, following a $77 million deficit the previous year, according to reporting by the Wall Street Journal.
The losses help explain the paper’s decision to cut about 30% of its workforce and underscore the scale of the reset under way at one of America’s most storied newsrooms. The figures point to a structural imbalance between costs and output that executives now say must be addressed.
At a staff town hall on Wednesday – the first major address since the layoffs – acting chief executive and publisher Jeff D’Onofrio and executive editor Matt Murray outlined what they described as years of overspending and declining productivity.
Since 2020, newsroom costs have risen 16% while the number of stories published has fallen 42%, according to figures shared internally. D’Onofrio said revenue did not keep pace with expenses between 2022 and 2025, citing the hiring of hundreds of staff during that period.
Murray, who previously led the Wall Street Journal and took over at the Post in mid-2024, sought to steady morale while recalibrating expectations.
“We don’t want or need to do every story or jump on everything that happens,” said Murray. “We’re not a paper of record; there’s no such thing anymore in today’s world.”
He argued the Post should focus on being “distinctive, urgent, and must-read” rather than trying to cover every development, as web traffic declines and reader habits shift.
Leadership remains unsettled. D’Onofrio stepped into the role earlier this month after the departure of Will Lewis. While he did not detail total losses at the meeting, he said a broader strategic plan is in development.
“Bear with me, because that will take some time and obvious care,” said D’Onofrio, adding that the company would pursue a new business model “hard” to honour its legacy.
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