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Journalism of Courage
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 4008211;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. 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.
