The layoffs were across the board, but primarily on the business side of the operation, said CEO Elisabeth DeMarse in an email.
Earlier Friday, TheStreet announced that Jeff Kanige, the editor in chief of TheDeal, would also become editor in chief of TheStreet, replacing Janet Guyon. Guyon had been editor in chief since April 2014.
Among those laid off were the head of advertising sales and the product development manager for TheStreet’s OptionsProfits.
In the past few years, TheStreet has been under pressure from some of its investors.
In July, one investor called for DeMarse’s resignation for failing to boost the company’s stock price. And in December 2014, another investor called for co-founder Jim Cramer to resign or sell the company.
The company’s stock rose 3 cents to $1.74 on Friday.
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