Gizmodo Media has avoided a round of layoffs after more than 40 staffers at the company agreed to buyouts, a source familiar with the matter confirmed to TheWrap.
In all, 44 employees agreed to voluntarily depart the company in return for 18 weeks of post-employment pay and health coverage.
“The response to the voluntary package was significant enough for us to avoid any newsroom layoffs,” editorial director Susie Banikarim said in an internal memo obtained by TheWrap. “While that is the outcome for which we’d hoped, any relief is bittersweet because it comes with the loss of talented and valued colleagues whose countless contributions will be greatly missed.