Around 25 Bloomberg BusinessWeek staffers are being let go today as the title continues its integration with new owner Bloomberg LP.
Those being pink-slipped are art and editorial staffers. Another 12 or so will be offered jobs at Bloomberg News, the parent company’s wire service. The total staff reduction amounts to roughly one-third of the newsweekly’s edit staff.
The cuts come as the title faces a 22.4 percent decrease in ad pages to 132 this year through its March 1 issue (Mediaweek Monitor). To stem the decline, BusinessWeek is working on an editorial overhaul that will put a greater emphasis on people and more (but shorter) articles.
A BusinessWeek rep said in a statement: “As we prepare for the launch of Bloomberg BusinessWeek on April 23, we are more deeply integrating our editorial team with Bloomberg's, one of the world's largest news organizations. As a result, there are some job redundancies, as well as areas that we will be strengthening through new hires.”
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