Categories: OLD Media Moves

Could more changes be scheduled at Bloomberg?

Jonathan Berr, a former Bloomberg News reporter, writes Thursday on BloggingStocks.com about the announcement Wednesday that Bloomberg was laying off 100 employees in its radio and TV operations and what other changes the company might make in the current economic situation.

Berr writes, “When I started with the company, Wall Streeters proudly boasting of having their own terminals. Now, they are lucky if they get to share one as financial services firms under pressure from their new government masters cut costs. Bloomberg is no doubt feeling the impact of these changes.

“For years, the company operated pretty freely, worrying about any payoff later. Those days are clearly over. Though Bloomberg says it plans to hire 1,000 people in its news and finance departments over the next year, you have to wonder if other jobs are going to be cut in other departments or if the hiring plans will be scaled back.

“Bloomberg News also hired many high-priced journalists such as Albert Hunt of the Wall Street Journal and Margaret Carlson of Time magazine over the past few years. Their contracts may have to be renegotiated. Bloomberg Markets, the company’s glossy monthly magazine, could be feeling the heat as well. The well-regarded publication will face difficulty surviving as a stand-alone entity.”

Read more here.

Recent Posts

PCWorld executive editor Ung dies at 58

PCWorld executive editor Gordon Mah Ung, a tireless journalist we once described as a founding father…

11 hours ago

CNBC taps Sullivan as “Power Lunch” co-anchor

CNBC senior vice president Dan Colarusso sent out the following on Monday: Before this year comes to…

2 days ago

Business Insider hires Brooks as standards editor

Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm excited to share…

2 days ago

Is this the end of CoinDesk as we know it?

Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

2 days ago

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

3 days ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

4 days ago