Restructuring at Quartz Media Results in 80 Employee Layoffs

Due to Covid-19, the Uzabase subsidiary is reducing its workforce by about 40%

Inspiration meets innovation at Brandweek, the ultimate marketing experience. Join industry luminaries, rising talent and strategic experts in Phoenix, Arizona this September 23–26 to assess challenges, develop solutions and create new pathways for growth. Register early to save.

Quartz, an English-language digital media outlet that primarily reports international business news, is the latest online publication to undergo layoffs due to the economic slowdown caused by the coronavirus pandemic.

Uzabase, the Japanese financial intelligence firm that acquired Quartz from Atlantic Media in July 2018, confirmed the business restructuring in a public filing on May 14.

“Uzabase has made a decision to accelerate efforts to reorganize Quartz’s business and to eliminate any potential future risks at an early stage, which will involve a shift towards a leaner structure through a fundamental business reform focused on restructuring the advertising business (approximately 40% headcount reduction),” according to the notice.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in