At a companywide meeting on Oct. 11, Washington Post interim CEO Patty Stonesifer briefed hundreds of employees on a set of voluntary buyouts to reduce The Post’s head count by 240 — a course correction following what had turned out to be overly exuberant business projections. Funding for the separation packages, Stonesifer said, would come from The Post’s pension plan, which she termed “overfunded.”
Younger Post employees, at that point, might have wondered: A rich pension plan? Where did I miss the sign-up for that?
They didn’t. In 2009, The Post closed its pension plan to new employees — and those who remained in the plan had their benefits frozen after Amazon founder Jeff Bezos acquired the newspaper.
The pension fund itself, however, didn’t freeze.
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