Bloomberg to lay off 130 employees

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. 8220;If there is a BusinessWeek representative to meet in the meeting,it means you8217;re being fired. If there is a Bloomberg person in the meeting,it means you are being offered a job.8221;

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 BusinessWeek8217;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.