Shira Ovide of The Wall Street Journal reports that Bloomberg LP plans to cut BusinessWeek‘s staff by 100 or more positions, or roughly 25 percent of the total employees, when it acquires the business magazine early next month.
Ovide reports, “Small numbers of layoffs already have been carried out this week, according to these and other people familiar with the matter.
“Some of these people said another reshuffling is likely to occur this spring, when Bloomberg expects to relaunch the magazine and move BusinessWeek into Bloomberg’s headquarters. Some BusinessWeek employees will be asked to work for Bloomberg’s news service, according to people familiar with the matter.
“In recent weeks, BusinessWeek editorial staffers who wanted to stay after the takeover were asked to submit to Bloomberg their resumes, news clips and 250-word statements about their personal qualifications, according to people familiar with the matter.
“The contenders for the top editor post were asked to write six-page memos outlining how they would integrate BusinessWeek and Bloomberg, according to people familiar with the matter.”
Read more here.
