Layoffs Hit The Daily Beast

About two dozen employees get the axe

The Daily Beast may be spared from shuttering for at least another year, but it will continue to operate with a staff that's about two dozen employees lighter, according to Adweek sister publication The Hollywood Reporter.

The majority of the job cuts came out of the New York office, where the Beast is headquartered, but people were also laid off in the Washington, D.C., and Los Angeles offices, according to the report.

Capital New York first reported on the layoffs last week, noting that about 65 employees remain on staff at the site.

The Daily Beast's corporate owner, IAC, approved a 2014 budget for the site late last month, dispelling—at least temporarily—reports that the site would fold after outgoing editor Tina Brown departs at the end of the year. "The Daily Beast is not for sale and is not closing," interim CEO Rhona Murphy said in a statement on Sept. 20.

In the same statement, the company announced that the site is set to undergo a redesign. The Daily Beast, though, is expected to lose millions of dollars this year, sources told Adweek back in August.