Layoffs occurring at International Business Times

An undetermined number of staffers are losing their jobs at the International Business Times, reports Noah Kulwin of Recode.

Kulwin writes, “IBT is owned by IBT Media, which bought legacy print magazine Newsweek back in 2013. Sources tell Re/code that they don’t know if the job cuts will affect other IBT Media brands, which include the medical trade publication Medical Daily and the Latino-focused Latin Times. They say, however, that most of the culling will be at IBT and that Newsweek will be unaffected.

“Last month, Politico’s Peter Sterne reported that between December and February, IBT employees were paid irregularly because of a payroll processing error. At the time, IBT Global Editor in Chief Peter S. Goodman told Sterne that ‘there has been no discussion of budget cuts or hiring freezes.

“‘I very forthrightly pressed [IBT Media co-founder Etienne Uzac] on this question,’ Goodman told Sterne. ‘He assured me that we’re not there and that we’ve got sufficient funds and that this is poor management by finance and we’re bringing in a chief operating officer to address these problems.'”

Read more here.