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Summary:

I am not sure why employees thought otherwise, but BusinessWeek is pitching to its prospective buyers that it is planning to fire about 20 p…

BusinessWeek Cover 7

I am not sure why employees thought otherwise, but BusinessWeek is pitching to its prospective buyers that it is planning to fire about 20 percent of staff this year, about 85 eliminations among 421 jobs, according to the pitch book, obtained by NYT. In the book, these layoffs have been decided/recommended since Q1 of this year, and includes the following:
— in editorial, 55 of 217 positions (they have 217 edit people?!).
— sales, 9 of 69.
— marketing, 6 of 26.
— technology, 8 of 33.
— circulation, just one of 19.

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  1. Wow! How disgusting that something like this becomes central enough to make it into their pitch deck. How mismanaged can they already be?

    Also, you have to laugh when you see a failed company like this portray themselves as "entrepreneurial". What a joke!

  2. So, they know they should lay off 20% of their staff — but they don't have the chutzpah to do it on their own watch? Nice management style. What would kind of story would they write about themselves?

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