Fortune undergoes restructuring, lays off staff

Fortune magazine underwent a restructuring on Thursday that results in laying off an undetermined number of employees.

The newsroom layoffs represent a handful of positions, with none in senior roles.

Among the layoffs are Kevin Sanchez Farez, an associate video producer, and Nicholas Bailey, head of IT operations and infrastructure.

Among other videos, Farez led end-to-end production for Fortune’s “The Ground Up,” series, resulting in the publication’s highest-performing video feature on YouTube, “How I Made Over $220M In Sales Creating Scrub Daddy.”

Bailey led global IT operations, including cybersecurity, networking, support, and vendor management, while overseeing a technology budget of more than $2 million.

A Fortune spokesman provided the following statement: “Fortune remains focused on productivity and efficiency across our global organization in support of strategic priorities. As part of that effort, we have made selective staff changes. We are continuing to hire and invest in key roles throughout the organization as part of our growth plan.”

Fortune laid off 35 staffers back in 2020. It also had layoffs back in 2009.

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.