The Washington Post is offering buyouts to veteran newsroom staffers and entire teams in its opinion and video departments, as the beleaguered newspaper grapples with an exodus of top talent and growing financial troubles.

The Voluntary Separation Program is available to “news employees with 10 or more years’ service at The Post, as well as to all members of the video department and to all members of the copy desk and sports copy desk,” Executive Editor Matt Murray wrote in an internal memo, according to New York Times media reporter Ben Mullin. A second memo confirms that the buyouts also extend to staffers in the Post‘s opinion section.

The program is “a big ‘are you in or out?’ moment for the staff,” Mullin wrote.

Employees have until the end of July to decide whether to accept the offer, according to both memos.

The announcement comes as the Post is already reeling from a wave of high-profile staff departures and the loss of more than 250,000 subscribers.

Two members of the editorial board resigned in October in protest of Post owner Jeff Bezos’s decision to block the board’s planned endorsement of then-Democratic presidential nominee Kamala Harris. Pulitzer Prize-winning cartoonist Ann Telnaes also stepped down earlier this year, while senior reporters Josh Dawsey, Ashley Parker, and Michael Scherer have left for rival publications.

Even before subscribers’ mass boycott erupted, the Post had been struggling financially for several years and was on track to lose $77 million in 2024, New York magazine reported.

The Post‘s opinion section editor, David Shipley, resigned in February as Bezos announced a new editorial mandate focused on “personal liberties and free markets.” Bezos said that he offered Shipley the opportunity to “lead this new chapter” but that the editor’s answer had to be either “hell yes” or “no.” Shipley left.

According to Murray’s memo, the buyout offer is “part of our ongoing newsroom transformation efforts aimed at reshaping and modernizing the newsroom for the current environment.”

“Reimagining the newsroom, rethinking all we do and how we do it, is disruptive and even uncomfortable,” Murray said, acknowledging that with the program, “we will no doubt see valued colleagues and friends decide to leave The Post.”