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Yesterday we reported that B2B publisher Crain Communications was closing its print magazine Financial Week and chose to go online only with…

Yesterday we reported that B2B publisher Crain Communications was closing its print magazine Financial Week and chose to go online only with it. Now, we have learned that it has laid off 50 editorial staffers spread across several of its magazines, sources said. The cuts were made fairly lightly at most of the individual mags, including AdAge, which lost three staffers (mostly in production and art); Crains NY Business (down one copy editor); and TVWeek (one reporter). Crain’s reps did not return calls for comment. The company has about 1,000 staffers overall. The hardest hit was Financial Week, which let go of 14 staffers as the print edition is shuttered and mag goes online-only. The magazine’s website was started in June 2007. Traffic has tripled since the credit crisis began building late this summer, sources said, and so Crain has decided to keep it alive with a particular focus on the capital markets.

  1. During recission, going online is a wise move, it will still attract a large amount of audience, also cutting down huge amount of cost.

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  2. What good is attracting a large amount of audience if you can't make any
    money off the free loaders. If this recession has taught us anything, it's that
    eyeballs are not enough.

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