Reported 4 months ago
The Daily Beast is undergoing a restructuring process as new leadership aims to reduce the organization's losses, with plans to implement a buyout program to cut down the newsroom staff. The Daily Beast Union, consisting of 37 members, is currently negotiating with management regarding the reduction. Speculations suggest that up to 40% of unionized staffers may be affected by the buyout. Former ABC executive Ben Sherwood and former Hearst executive Joanna Coles have recently taken on leadership roles within the organization, which has reportedly been a financial burden for owner Barry Diller since its establishment in 2013.
Source: YAHOO