More Cuts Come at Forbes

Citing the continued economic contraction, Forbes Media slashed various financial benefits in addition to eliminating more jobs across all areas of the organization.
 
The company suspended its 401(k) match; cut salaries for anyone making more than $100,000; and announced a week-long furlough for all employees with no pay—measures that have become increasingly common at other companies struggling to cut costs amid the economic slowdown.
 
Forbes didn’t specify a number of layoffs in this round, its third in five months, but sources and news reports put the figure at 70.
 
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