Breaking: More Layoffs Hit Forbes

There have been rumors for the past few weeks that Forbes would be cutting more staff sometime soon, and it looks like the time has finally come.

We just learned that a memo went out to staff this afternoon from Steve Forbes explaining the situation:

“We — and the entire media world — have been hit hard by both the severe recession and the seismic shifts wrought by the Web. Given these dramatic events, further layoffs, unfortunately, are necessary across the entire organization…While these are acutely challenging times, Forbes Media is making the strategic and organizational changes that will enable us not only to weather these storms, but ultimately to emerge as a stronger company, well-positioned to expand and prosper in the years ahead.”

Although

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