MarketWatch Lays Off Staff

Several longtime staffers let go

Add Dow Jones’ MarketWatch to the parade of media companies laying off staff lately.

A spokeswoman for the business site confirmed it’s trimmed a number of its 90-person news staff. The rep wouldn’t give a number, but a knowledgeable source said the total was 13, or 14 percent, generally longtime employees and union members.

Many had been hired by David Callaway, the longtime editor who left last year to become editor in chief of USA Today and was replaced by Jonathan Krim. Included in the departures are media columnist Jon Friedman, media reporter David Wilkerson and reporter Steve Gelsi.

The rep said the company has also hired six people in the past two months, most of them New York-based, which is not union-represented.

Staffers were said to have been given one month to work and two weeks' pay for each year of service, along with a year of health benefits—but that the cuts trickled out over a period of weeks was hardly settling.

The layoffs also come as parent News Corp. gets ready to split off its highly profitable entertainment business, with MarketWatch to be lumped into a new division with the lower-performing newspapers.