The Washington Times has suspended matching contributions to its employees’ 401(k) accounts.
In a memo sent to employees and obtained by TPM, vice president for human resources Sonya Jenkins announced that the contributions would stop today.
“As we continue to assess changes necessary to manage through the industry and economic challenges confronting The Washington Times, we must take immediate steps to reduce costs,” Jenkins wrote.
“We regret having to take this action but believe it is the prudent thing to do in light of current economic and industry conditions,” she added.
It’s the latest development out of the Times newsroom, whose future looks less certain by the day. This week, four executives, including executive editor John Solomon, have resigned. Sources tell TPM that bills have gone unpaid. There’s also talk that a feud within the Moon family is fueling the shakeup.
