All the pledge drives in the world couldn’t save National Public Radio. The non-profit news organization announced today that it will offer a voluntary buyout plan to aimed at reducing staff by 10 percent. Currently, the non-profit has 840 full and part time employees.
“As part of the strategy to eliminate the deficit and lower ongoing expenses, NPR will offer a voluntary buyout plan across the organization that reduces staffing levels by approximately 10 percent,” said a memo that went out to staff this morning.
The organization’s budget, which relies on donations from corporations, “people like you” and federal funding, is facing a budget shortfall for the coming year. The buyouts are part of a bid to balance the books for 2015. NPR will also explore “revenue generating initiatives such as branded events.”
“Philanthropic gifts and foundation grants have rebounded since the financial crisis and NPR says it’s been the best year for both since the late Joan Kroc’s gift of roughly $250 million a decade ago. But underwriting revenues from corporate spots have not,” reported NPR media correspondent David Folkenflik.
Also today, NPR announced that board member Paul G. Haaga, Jr had been named interim CEO.
