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Washington Post Executive Editor Matt Murray said the newspaper is on a “trajectory” to break even after making devastating cuts to the newsroom.
Speaking at Semafor’s Restoring Trust in Media event in Washington on Wednesday, Murray recounted the pain that came from the mass layoffs earlier this month that left more than 300 journalists without a job. At the time, Murray pitched the cuts as a “strategic reset” necessary for the storied paper to navigate rapid changes in technology and news consumption.
He said the Post’s business had been declining for “quite some time” as revenue fell and subscriptions waned, acknowledging that the paper remains “behind” competitors like The New York Times and Wall Street Journal commercially.
“Great journalism is central, but the journalism alone isn’t enough,” he said.
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The cuts come as the paper has bled subscribers, partly owing to owner Jeff Bezos’ decision to adjust the Post’s political position, which included pulling back an endorsement for then-Vice President Kamala Harris in the 2024 presidential election.
Many Post reporters have blasted the paper over the staff cuts. Murray told CNN hours after the layoffs that Bezos “is nothing but supportive of getting the house in order and being positioned for growth.”
Murray on Wednesday didn’t give a timeline for when the Post expects to reach profitability.
“We’re trying to get to stability and then to break even, and then we’ll be in growth mode again,” he said. “i came [to the Washington Post] to try to do what I can to help the Post grow and thrive, not to oversee a steady decline.”
Murray said Bezos is “committed to a long-term future” for the company.
He also said Bezos was “totally supportive” of the Post’s legal efforts over the FBI’s raid on the home of a Post reporter as part of a government investigation.
“He’s wanted us to fight the seizure of her devices strongly, as well as the government’s assertions that they should keep the devices.”