Chicago Public Media CEO Melissa Bell announced in letters to WBEZ and Chicago Sun-Times supporters Wednesday that CPM will offer a voluntary separation program to certain staffers.
Bell called the move a “proactive decision” to “align our organization’s size with our goals while strengthening our most valuable and impactful initiatives and ensuring our financial sustainability.”
“Our hope is that this action and other efforts will reduce our costs so that we can avoid more significant cost-cutting measures down the road,” she said. The Sun-Times reported that the buyouts could save the organization $3 million to $5 million in annual expenses and lead to 20 to 30 people leaving.
Staffers who accept the buyout will be offered incentive packages. Bell did not share details about the packages.
The program will be available to WBEZ business team and Chicago Sun-Times staff but not WBEZ’s newsroom, she wrote.
Bell told the Sun-Times that the buyouts could begin in March.
In coming months, CPM plans to “unify our platforms in one website,” “reimagine our audio lineup to bring you more community-centered programming” and “reimagine our print product,” she wrote.
Last year, CPM cut positions that included WBEZ’s podcast unit and Vocalo music station, citing revenue from sponsorship, advertising, subscriptions, membership and philanthropies “not growing to support our mission,” then-CEO Matt Moog and board chair Robert Pasin said in an email to staff.
“While we’ve made strides in adapting to the rapidly changing media landscape, these efforts haven’t yet translated into the sustainable revenue we need,” Bell wrote. “Making this adjustment now is a necessary step to position us for long-term success and fully realize the transformative potential of our combined organization.”
Bell, who co-founded Vox.com, replaced Moog as CEO in September.
In 2022, Chicago Public Media acquired the Sun-Times with help from $61 million in philanthropic funding over five years.