1srelluc
Diamond Member
Jeff Bezos confronted on Washington Post layoffs, argues paper must be profitable regardless of his wealth
Owner Jeff Bezos defended the Washington Post's bruising layoffs, saying the paper must be a profitable enterprise that stands on its own regardless of his wealth.
www.foxnews.com
Billionaire Washington Post owner Jeff Bezos on Wednesday responded to criticism of the brutal round of layoffs at his paper earlier this year, saying it needs to maintain relevancy and turn a profit regardless of his wealth.
Several departments were gutted, including its sports, metro and books sections, as well as its foreign correspondents and photojournalists. The massive headcount reduction stunned the media industry, although the paper's heavy financial losses were no secret.
Bezos sat down with CNBC’s Andrew Ross Sorkin, who bluntly asked, "The company laid off about 30 percent of its staff, and there are a lot of people out there who said, ‘Jeff’s super wealthy, he’s talked about this being a public trust, something that he bought early on, how much you care about that piece of it. Why lay people off? Why fire people? Why don’t you subsidize the business?"
"The Post needs to be a profitable enterprise that stands on its own two feet," Bezos shot back.
Well to be honest it would have been dead by now had he not bought it.
Sorta like:
Subsidizes! That reminds me of the communist cities like NYC that claim communism can work provided it is subsidized by the capitalists.
