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The Associated Press on Monday announced that it plans to reduce its workforce by eight percent and will offer buyouts to eligible employees.

The news organization, which used to be the largest publication in the world, did not indicate exactly how many employees will be let go but the News Media Guild said that 121 of its members would be offered buyouts. 

The move comes as the publication seeks to rebrand itself as a digital-first organization, and comes after AP witnessed multiple business woes in recent years. The publication said two major news organizations recently stopped buying their news from the wire service, including Gannett, which has subscribed to AP for over a century.

“We all know this is a time of transformation in the media sector,” AP President and CEO Daisy Veerasingham said in a memo to staff members on Monday. “Our customers — both who they are and what they need from us — are changing rapidly. This is why we’ve focused on delivering a digital-first news report. We now need to accelerate on this path.”

The focus on becoming a “digital-first” organization means they will increase their focus on visual story-telling, by implementing more elements of photojournalism, video, and digital content.

The largest bulk of the firings will occur in the United States, and less than half of the firings will be among news employees. 

Those eligible for the buyout can expect to hear from the organization by the end of Monday, and the buyouts will include a severance check and partial health coverage for 18 months, the outlet said. The other employees whose jobs will be eliminated will learn so over the next few weeks.

Misty Severi is an evening news reporter for Just The News. You can follow her on X for more coverage.