Major Layoffs at The Daily

Is 18 months of ambitious deficit financing enough to determine it is no longer worth pursuing a particular online news gathering path? Some would say yes, and today, that is exactly what News Corp. has decided.

Peter Kafka of All Things Digital was first with the news. His report was soon followed by a message from editor-in-chief Jesse Angelo and a public press release:

– A total of 50 full-time employees, 29 percent of the full-time staff, will be released.

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