IBT Media is ending the week in unfortunate fashion — through a series of layoffs. According to Politico, the company has cut 15 staffers and International Business Times’ editor Peter Goodman is departing.
Goodman joined IBT Media just two years ago. He previously served as executive business editor for The Huffington Post.
As for staffers who received pink slips, they included John Simons, Paul McDougall, James Sienkievic, Salvador Rodriguez, Luke Villapaz, Mike Brown, Jeff Stone, Andrew Perez, Cole Stangler, Chris Harress, Ismat Sarah Mangla, Adam Lidgett, Sarah Berger, Aaron Morrison and Jackie Salo.
In a memo, IBT Media co-founders Jonathan Davis and Etienne Uzac did their best to explain the cuts:
Over the past few months we have been strategically restructuring the company in order to adapt to the changes in the market and to insure IBT Media has a strong path to continued growth. In these ever shifting and challenging times within our industry, we are responsible for sustaining and reinventing our company as best we can.
These changes are concluded as of today. We are thankful for and deeply appreciative of the contributions made by the people who are leaving.