MarketWatch.com lays off five editorial staffers
MarketWatch.com, a financial news site operated by Dow Jones & Co., laid off five staffers on Monday as part of a reorganization of its operations.
The positions cut include one union position and four nonunion positions, according to a representative for IAPE 1096, the union that represents business journalists at Dow Jones media operations.
Jeremy Olshan, the editor of MarketWatch.com, declined comment. A Dow Jones spokeswoman also declined comment.
The staff was informed during a conference call. Management emphasized that the changes were not a “reduction in payroll or overall budget” but “a refocusing of where we think the most gains are to be had,” said one staffer.
Dow Jones announced last month that it was making a buyout offer to staffers at The Wall Street Journal. But that offer did not extend to MarketWatch.com.
MarketWatch was started in 1997. Dow Jones acquired it in 2005 for $530 million.