WTOP in D.C. offers buyouts as “listening and revenue have gone backwards”
103.5 WTOP, Washington, D.C, notified its staff that the company is offering contract buyouts in the form of a Voluntary Separation Program for all full-time non-managerial staff who work in the station’s newsroom for the station, website, or website development.
The buyouts are not available for the remainder of the station’s departments and are completely voluntary to staffers who are 55 years or older and whose tenure with the station would add up to 65.
In the memo, Senior Vice President and General Manager Joel Oxley wrote, “During the pandemic, in DC and across the country in all Hubbard markets, there was downsizing. WTOP programming did not downsize. We hoped that the economy, radio listening in DC, radio listening at WTOP and our revenue would all come back close to 2019 levels. In 2021 we made some progress, but in 2022 both listening and revenue have gone backwards from 2021 levels, let alone where they were compared to 2019,” reports RadioInsights.
Additionally, the station announced that Craig Schwalb has departed as Director of Content Integration and Operations.
Of note, WTOP-FM was top billing U.S. radio station in 2021.
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