Forbes abruptly cut ties with dozens of contributing writers this week — sparking outrage and confusion among the rank and file as bosses said they were moving to ensure the business news site is “financially sound,” reports Alexandra Steigrad of The New York Post.
Steigrad reports, “Numerous contributing writers at the 108-year-old financial news outlet — independent contractors who are experts in fields from finance and media to lifestyle, sports and food – were informed late Monday that their contracts were terminated, effective immediately, according to emails obtained by The Post.
“‘The media industry is changing drastically, forcing publishers, including Forbes, to pursue new strategies to provide the journalism our readers depend on,’ Jeffrey Marcus, the site’s assistant managing editor, wrote in one of the emails.
“He said Forbes wants to ensure that the ‘contributor model is financially sound and meets our readers’ evolving needs,’ adding that to maintain its audience the company must ‘focus on regular contributions’ that ‘consistently engage a large and loyal audience.'”
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