Reed Tightens The Belt Again: Layoffs Hit Variety, Multichannel, PW; Wage Freeze; B&C Shrinking

imageAnother round of jobs cuts at Reed Business Information — 7 percent across the board, according to multiple reports — and many of these come close to the bone. Nikki Finke, who wrote earlier today that she expected more layoffs at Variety this week, reports that her original number of 30 was “in the ballpark.” She has started to list names; so far, it doesn’t include Peter Bart but maybe they hope the longtime editor will just quit. At Publisher’s Weekly, the layoffs include Sara Nelson, editor-in-chief for four years, according to the New York Times. I can report that half of the Multichannel News full-time reporting staff will be gone by the end of the month. I wrote for the cable magazine years ago and worked with the three veterans — Ted Hearn, whose FCC coverage has often been mentioned here, Linda Moss and Linda Haugsted. (I also worked with Sara Nelson at At Broadcasting & Cable, only one staffer is out — PJ Bednarski, executive editor — but the magazine will shrink to standard size. Despite expectations to the contrary, MCN and B&C will remain separate but expect more resource sharing as they cover more with less. Weekly Variety may disappear.

Folio reports that the job cuts come along with wage and hiring freezes for 2009. The moves come five days after a reorganization that gave Jeff DeBalko, RBI’s chief internet officer, the additional role of president of the new Business Media Division; MCN, B&C and PW are all part of that group.