Fishbowl D.C. has been dutifully covering the buyout offers extended to longtime Washington Post employees as the paper struggles to remain competitive in the internet age.

Part of the Post‘s strategy has been to offer buyout packages to its full-time employees so that the paper can convert them into contract employees who require less financial overhead. The buyouts of the more lucrative news personalities will not result in any real change in their job functions at the Post, but will instead serve to alleviate the remunerable concerns of the paper.

Well, just this month, one of the men who put the Washington Post on the map and who happens to be Assistant Managing Editor accepted the paper’s buyout offer: Bob Woodward.

Even though the buyout may be a mere formality with no real effect, it still seems like the end of an era when the financial times force the Post to break with it’s longtime resident legend.

Thx to FishBowl DC

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