OLD Media Moves

TheStreet.com closes San Francisco bureau

November 14, 2008

Jeff Bercovici of Conde Nast Portfolio reports that TheStreet.com is closing its San Francisco office.

Bercovici writes, “A spokeswoman confirms it, but declines to say how many jobs have been eliminated as a result, or whether San Francisco bureau chief Mike Goodman will be staying with the company; one source says he will.

“‘We’ve made the decision to close that office,’ said the spokeswoman. ‘But we are nonetheless going to maintain an ad sales presence out there and we expect at least some of the reporters in that office will continue to contribute to our network of sites.’

“The spokeswoman added that the decision was consistent with the discussion during the company’s third-quarter earnings call of the need for belt-tightening measures. ‘This is really part of an overall effort we talked about and it shouldn’t be too surprising given the environment that we’re in and the unprecedented times that we’re in that we’re taking a hard look at our costs.'”

Read more here.

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