Crain CEO memo on layoffs last week

Crain Communications CEO KC Crain sent out the following on Friday to the staff about its layoffs:

Team,
Following my last note, I wanted to provide you with an update on the Company’s transformation progress. We made some changes today that affected specific roles throughout the company. Managing the strategic evolution of our business can sometimes be difficult, particularly when it impacts individuals. We’re grateful for the hard work of all those affected.
For us to better invest, grow, and reward our teams, we must make changes to become nimbler and more efficient. As we continue our transformation to operating as One Crain we are committed to focusing on what we do best: producing trusted information, serving our audiences in new ways and building capabilities that will drive our success for years to come. We will continue to invest in new formats, data, analytics, and digital products to meet audiences where they are and where they’re headed. We’ll continue to share updates on this transformation in the weeks and months ahead.
KC

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.