Blog Post

BusinessWeek Under Bloomberg: About 100 Staff To Be Laid Off

So the cuts and changes will happen anyway, despite whatever the promises were, reminiscent of the Murdoch’s promises to the Bancroft family at the time of the Dow Jones (NYSE: NWS) deal. Bloomberg will lay off about 100 staffers from BusinessWeek staff when the deal to buy it from McGraw-Hill (NYSE: MHP) closes, reports WSJ. This would be about 25 percent of the current staff strength. This comes as Bloomberg just announced appointing Josh Tyrangiel as the new editor of the mag.

A small number of those layoffs are happening this week, and rest would happen in spring when staff moves into Bloomberg’s HQs and magazine relaunches. Not much about new plans for online yet.

Updated: Gawker has a memo from Norm Pearlstine to BW staff, outlining the progress so far and changes coming ahead, hinting at these major layoffs.

Staci adds: When I interviewed Pearlstine the day the deal was announced, he said Bloomberg wouldn’t gut BW, as many predicted/feared, but he didn’t say they wouldn’t cut. What he did say: “There