When Newsweek announced it was folding, we knew there would be cuts made. According to a memo sent out by Tina Brown and Baba Shetty, those layoffs are coming today.
The full memo, obtained by Capital New York, is below.
Good luck to all you Newsweek staffers. This kind of thing, well, it just sucks.
The sad moment has arrived when we must go forth with the editorial staff reductions that we discussed in person with all of you several weeks ago. Employees in the affected positions will be notified today. Much of this has already happened on the business side, and today we will be letting staff on the editorial side know where we will be eliminating positions. This is a very difficult day, and one that we approach with enormous regret.
Anyone whose job (or job category) is affected will meet today with a senior member of the editorial team. No one will be asked to leave before December 31st (and many will stay at least into mid-January). Managers will be getting in touch later this afternoon with groups of affected employees to let them know when and where their particular meeting will take place. After the meetings with management, you should feel free to speak with Holly Antiuk or Lauren Strada for more specifics on all aspects of this transition. We are working to ensure that the process is handled as sensitively as possible.
Tina & Baba