"We are seeking a substantial number of employees to elect this benefit, but we reserve the right to reject a volunteer based on business considerations," wrote Gerard Baker, the newspaper's editor in chief.
A spokeswoman at Dow Jones declined to comment.
In an email to staff on Friday, the Journal’s editor in chief, Gerard Baker, said it is offering “enhanced” buyouts to all newsroom employees “to limit the number of involuntary layoffs.”
“I regret of course the need for such a move, and I appreciate deeply the dedication all of you continue to show through challenging times,” he said. “I’m confident this process is the right one to set us on the right footing for renewed growth in the years ahead.”
The Wall Street Journal reports the email to employees Friday didn’t specify how many employees the company hopes would take the offer. Staff have until the end of the month to request a buyout.
Earlier this week, Dow Jones & Co Chief Executive William Lewis announced a three-year plan to cut costs in response to a decline in print advertising. Dow Jones is the parent of The Wall Street Journal.
The goal of the review, dubbed WSJ2020, is to modernize the newsroom and improve its mobile and professional information business products, Lewis wrote in a memo Wednesday outlining the plans.
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