Bloomberg to lay off 130 employees from BusinessWeek
New York: Bloomberg may lay off about 130
employees in BusinessWeek, which the global financial news and
data provider acquired recently, says a media report.
Attributing to sources, New York Post said that Bloomberg
is expected to whack up to 130 employees of BusinessWeek, out
of a total 400--a staggering 32 per cent staff reduction.
The daily further said that about half the cuts are
expected to come on the 200 strong edit side.
Citing a source the report said that editorial staffers
are being called in one by one. "If there is a BusinessWeek
representative to meet in the meeting, it means you`re being
fired. If there is a Bloomberg person in the meeting, it means
you are being offered a job."
Among those being laid off is On the Media columnist, Jon
Fine, who has been on a sabbatical traveling with his wife,
Mediabistro founder Laurel Touby.
James Leone, the founder of BusinessWeek`s online video
group, is out, along with his five-person staff.
Earlier, in October, McGraw-Hill had said it is selling
BusinessWeek to Bloomberg.
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