UPDATE–We have corrected the story to remove names of the key executives who have left or are leaving the company and to clarify that some were forced out, some were fired and others left of their own accord, per various sources, including the Boston Business Journal. 

The Boston Globe will be offering buyouts to employees in certain departments, reports Media Post. After laying off seven marketing, advertising and non-newsroom employees in late May, the newspaper sent a memo to staff telling them about new cost-cutting measures. Though specifics were not given, buyouts would be offered to employees in the newsroom, advertising and marketing departments. If not enough employees take the buyouts, management will ‘consider all other options, including layoffs.’

In the memo, Boston Globe president Vinay Mehra and editor Brian McGrory said, ‘We will use any savings to address the current economic realities and invest in our core strength – great journalism, with an eye toward our digital offerings.’

‘We are optimistic that the buyout, the first in two years, will result in the savings we need to create a sustainable Globe,’ Mehra and McGrory said.

In addition to budget cuts, the newspaper will consolidate its zoned editions (Globe North, Globe South and Globe West) into one Sunday section called Globe Local.

‘Our editors do great work putting out high-quality sections week after week, but revenue-wise, they are on the verge of going under water. We are planning to create one edition that will run across all zones, called Globe Local, and zone the advertising, so that businesses still have a lower cost, more targeted option,’ the memo said.

A spokeswoman told the Boston Business Journal in an email that select positions on the business side of the company were being eliminated.

‘As we continue our transformation in developing a sustainable and vibrant media organization, we must be as efficient as we can so that we are able to produce the quality journalism that is so important to our community,’ the spokeswoman said.

In addition to the buyouts, The Boston Globe is dealing with several controversies. Recently, McGrory has been in the news, accused of sending an inappropriate text message to a reporter he used to supervise. Last year reporter Jim O’Sullivan had been accused of sexual harassment, and earlier this year, columnist Kevin Cullen implied he was at the scene of the Boston Marathon bombing in 2013 when he had not been there, reports The New York Times. Cullen is on paid administrative leave.

About a dozen key executives at The Boston Globe have also left the company in the last year. According to a January 8 story in the Boston Business Journal, eight of those executives had left the paper since the previous summer. Some were forced out, some were fired, and some left on their own, according to several sources.Owner John Henry took responsibility for forcing those leaders out of the company, says the Boston Business Journal.

‘The culture of the Globe on the business side … needed to be reset, not because of staff but because of management,’ Henry said in an email to the Business Journal. ‘The biggest fear in this industry, but especially at the Globe, should be the status quo. When I first became involved with the Globe, my fear was that the great challenge would be with journalists, pressmen – the people who make the Globe what it is. But the challenge and disappointment has been squarely with senior leadership. We’ve finally dealt with those issues. I am squarely responsible for not dealing with these issues in the first year.’

Insider Take:

The Boston Globe has multiple issues working against it – declining revenue, an exodus of senior managers and leaders, controversy and perhaps a company culture that is no longer working. Another round of buyouts may not be enough to save this sinking ship.