Categories: OLD Media Moves

Personal finance site The Penny Hoarder has cut some staff

The St. Petersburg-based personal finance website The Penny Hoarder has laid off a handful of editorial workers, reports Margie Manning of The St. Petersburg Catalyst.

Manning reports, “It did not say how many people were let go or the size of the staff that remains.

“‘We’ve had to make difficult decisions to better position and reorganize ourselves for the future, including the reduction of our team,’ Kyle Taylor, founder and CEO, said in a statement. ‘It’s no secret that the media industry is in a state of great change. We’ve made choices to better position ourselves for the future. We have full confidence in our continued ability to serve our audience and grow our business.’

“The company had 82 employees and $36.9 million in 2017 revenue when it was listed on the 2018 Inc. 5000. Its three-year growth of 861 percent put it at the No. 581 spot on the list.

“Pinellas County and St. Petersburg officials celebrated the company’s growth in November 2017, when The Penny Hoarder moved into 23,000-square-feet on the top floor of the Tampa Bay Times building in downtown St. Pete.”

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.