The first week of December another series of redundancies and closures of magazines were announced. The biggest cuts were at the Washington Times.
The newspaper plans to lay off about 40 percent of its staff and make other changes as it battles falling circulation and advertising revenue. The reorganization will include laying of about 40 percent of the newspaper’s staff of 370 people. via Washington Times to lay off 40 percent of its staff – Washington Business Journal:
The National Geographic Society today said it was ceasing regular publication of the print edition of National Georgraphic Adventure, a 10-year-old title conceived in the heady days when adventure travel seemed to be the wave of the future. As part of the move, the magazine’s entire 17-person editorial staff has been let go, including John Rasmus, who launched the magazine. via National Geographic Adventure to halt print edition
Just three days after Bloomberg LP completed its $9.3 million cash acquisition of BusinessWeek from McGraw-Hill Cos., the new magazine’s new owner said it was doing away with the print edition of BusinessWeek SmallBiz, folding it into the main weekly print edition and Web site. via BusinessWeek shuts down SmallBiz
As of yesterday, it looked as if 50 unionized newsroom employees would be taking buyouts. This latest round of cuts is far deeper than the roughly 20 people cut in what has been called the Valentine’s Day Massacre of 2008. That was the first-ever wave of layoffs in the paper’s more than 100-year history, and more than 100 positions were eliminated when voluntary buyouts are included in the total. “Conservatively, they are still looking for 40 to 60 people [to cut],” said one insider, referring to the latest round. via Cuts mean tears at Times next week – NYPOST.com
Picture: Stock Exchange | Memento 3 | Gabriella Pataky