Newsweek just issued a statement addressing the "really depressing" mass exodus of employees offered buyouts:

Confronting the challenges in today's media climate, we recently offered a voluntary retirement program to some of our employees. We were fortunate to be able to provide generous packages for eligible staffers who wanted to move on, while also saving on some of our existing expenses. A number of the familiar faces who accepted the offer, including David Ansen, David Gates, Cathleen McGuigan, Mark Starr and John Barry, will continue to contribute to the magazine and Newsweek.com. And, of course, Newsweek remains home to Jonathan Alter, Sharon Begley, Ellis Cose, Chris Dickey, Howard Fineman, Daniel Gross, Mark Hosenball, Mike Isikoff, Melinda Liu, Johnnie Roberts, Evan Thomas, Fareed Zakaria, Anna Quindlen , George Will and many other star journalists.