Morning Brew lays off 40 employees

Business news newsletter company Morning Brew has laid off 40 employees, reports Sara Fischer of Axios.

Fischer writes, “It’s the second round of layoffs for the digital news outlet that targets millennials since last November, when it shed 14% of staff.

“Details: ‘As you know, since November, we’ve been undergoing a cost-cutting initiative to ensure our business is properly organized for our next stage of growth in this volatile advertising market,’ CEO Austin Rief wrote in the note.

‘While we’ve made progress over the last few months, and I’m confident we are on the right path, today I am sharing sad news. As a part of a business reorganization, we will be saying goodbye to 40 of our Morning Brew team members,’ the note continued.
Departing staffers will get 10 weeks of severance, in addition to support benefits.
Rief said Morning Brew is working with its parent company, Axel Springer, to refer Morning Brew employees to other portfolio companies with open roles. (Axel Springer also owns Insider and Politico in the U.S.)”

Read more here.

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.