Categories: OLD Media Moves

TheStreet lays off nine, mainly on business side

Financial news and information company TheStreet.com laid off nine people on Friday, its chief executive officer confirmed to Talking Biz News.

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.

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.