KQED offers voluntary buyouts, prepares for layoffs - Current
The station faces a budget shortfall due to uncertainties surrounding federal funding and declines in underwriting and foundation support.
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Yes this comes into play as KQED has to respond to the CPB cuts affecting public media outlets around the country and the organization needs to respond to the changes in the budget for their local operations.
KQED in San Francisco offered buyouts to staff earlier this month, according to an email obtained by Current, and aims to stabilize its financial position and seek a path towards sustainability.
“While individual contributions are up, we are faced with downward industry trends in corporate sponsorship and underwriting as well as in foundations and grants,” said CEO Michael Isip in a June 4 email to staff. “This is exacerbated by threats to federal funding. With our expenses projected to outpace our revenue growth and given our budget deficit, we are in the process of making budget reductions which will include layoffs. We are aiming to complete this process by mid-summer.”
A spokesperson for KQED declined further comment.
The deadline to request a buyout was Friday. Any employee could request a package, though Isip said each request “will be reviewed individually, balancing operational needs with the savings we must achieve.” Employees who are laid off will receive the same package.