Two weeks after NewBay Media CEO Steve Palm told us he was looking to hire, not fire, staffers from his newly acquired magazines, we have heard of layoffs at Multichannel News.
A tipster tells FishbowlNY that at least two people were let go yesterday from the cable industry trade publication: executive editor George Vernadakis and design director Maria Hernandez. And where there are layoffs at one pub, there are likely to be at the other titles acquired by NewBay, Broadcasting & Cable and TWICE.
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Following up on our interview earlier this month, we reached out to Palm for comment on the layoff news.
He has not yet responded to our request. Update: A NewBay spokesperson sent us a statement, confirming layoffs at all three pubs:
“Working with the managers of the acquired brands, it was determined that several positions overlapped with positions already existing within NewBay. Due to this redundancy and cost considerations, a small number of B&C, Multichannel News, and TWICE employees will not make the transition. For those team members affected by this decision, we thank them for their efforts on behalf of TWICE, B&C and Multichannel. These are talented individuals who we wish the best. As previously announced, NewBay continues to actively seek candidates for our online, finance, and circulation departments as a result of the acquisition.”
We’ll update you as the story develops.