Bad News Coming At Reed: Layoffs, Closures
Reed Business Information has called off its sale of 50 of its magazines, now hoping to sell the magazines off piecemeal, paidContent reports.
“We are in advanced discussions to sell a number of titles to separate purchasers and, if these are satisfactorily concluded, expect to make announcements on these sales in the next few months,” wrote RBI USA CEO John Poulin in a memo to staff. He continued: “We have not been able to sell the business as a whole and this unfortunately will result in title closures and job losses across the business during the first half of the New Year.”
Yikes.
Last month, RBI sold
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in