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Bloomberg BusinessWeek Cuts 25; Moves A Dozen To The Wire Service

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About 25 staffers were let go from Bloomberg BusinessWeek as the title prepares for its major redesign late next month. Among the 25 who were cut were senior reporters Tom Lowry and Michelle Conlin, FishbowlNY reported. The layoffs were attributed to “redundancies,” a Bloomberg rep told Mediaweek. Separate from the job cuts, Bloomberg plans to move a dozen BW reporters to the wire service.

Roughly 100 staffers lost their jobs at BW a few days ahead of the official transfer of ownership from McGraw-Hill (NYSE: MHP) to Bloomberg last November.

At the Bloomberg BusinessWeek Media Summit, which was still being held in the McGraw-Hill building, the registration area was adorned with four posters touting the mag’s relaunch, which arrives on newsstands on April 23. The tagline on one poster says in large, bold type: “Business Magazines Are Dead,” with “Oh, really?” in a smaller font below. Another one explains what’s to come by saying, “Fewer Pages, Fewer Stories, Fewer Issues — sounded like a lousy idea to us too.” Bloomberg execs have promised that the revamped BW will have shorter articles, but more pages for editorial and three more issues.

Staci adds: There’s never a good time for layoffs but Bloomberg picked a rotten one. This should have been a week for the brand to get a boost with the Media Summit. Instead, that was squandered within the community that covers Bloomberg — and may ripple beyond. That’s before we get to the quality issues of the cuts but aside from personal frustrations over some of the layoffs, that’s hard to gauge now.

3 Responses to “Bloomberg BusinessWeek Cuts 25; Moves A Dozen To The Wire Service”

  1. Wall Flower

    BW really needs to look to their Web operation if the outfit is to have a future.

    Online honcho Martin Keohan is probably the smartest guy in the whole building. If he was involved in deciding who stays and who goes, then there is hope.

  2. An Insider

    “…The layoffs were attributed to “redundancies,” a Bloomberg rep told Mediaweek……”

    Redundancies? They fired the entire Photo, Art and Graphics departments!!! Including support people and administrative assistants! They’re not moving anybody downtown from the Bloomberg building to fill these positions…they’re simply getting rid of ANYONE with a link to the McGraw Hill magazine! And it’s not all cost-cutting either…the new Director of Photography is going to be pulling down a quarter of a million bucks and the posh Art Director they had to go all the way to England to find will cost one Hell of a lot more than that!!! No…the want to ‘sex up’ BusinessWeek just like Conde Nast thought they could with Portfolio and to do that they think they have to trash the previous staff…period! And what happened to Portfolio? Oh yeah!!!

    And given how they treated the fired employees today…killing their email, internet and phone service ten minutes after they were told they were let go…they should be ashamed of themselves. This was a staff of people who had, in a lot of cases, spent their entire professional lives at BusinessWeek and they are being treated like criminals, or the enemy, take your pick!

    Way to go, Bloomberg…job well done!!!