Reeves says: "By going weekly, the Post can make its contribution to the changes the business has to make to secure its own long term future. Moreover, the change is a positive response to the challenges, and gives the Post a whole new business model that strengthens its profitability and future potential.
"Unfortunately, all of this means that some of the Post's daily editorial team will lose their jobs, although we hope that as many as possible can be achieved through voluntary redundancy.Over the past two months, everyone in the newsroom has been undergoing consultation about the future of the titles - and of course the future of their own roles.
"As a member of the editorial team, I was also under consultation, and I thought it was very important that I should make a clear decision whether to stay and see the changes through - or to go and give the paper a fresh start under a new editor.
"I believe that to stay I would have to commit to be editor for a considerable period into the future, but that after almost four years in the job already, the time is right for a new pair of hands to pick up the reins."
Reeves says on his blog that the new weekly Post will never be less than 100 pages, come out on Thursdays and will have breaking news online every day.