Ryan Tate of Valleywag reports about layoffs at Wired magazine‘s online operations.
Tate writes, “Wired.com managing editor Marty Cortinas and copy chief Tony Long were laid off last week, sources tell us, though it’s expected the two will stay on through the end of the year. The loss of two people, even high ranking ones, might not seem too brutal but for the website’s recent history: it lost a quarter of its staff last November, along with a closely-aligned development executive at parent company CondéNet; then in April it lost more staff, including managing editor Leander Kahney, two other full-time employees, an unknown number of freelancers and several writers at Wired Digital’s Ars Technica website.
“On top of that, people close to the company whisper that the two founders of social news website Reddit, and potentially other staff, may soon be out the Wired door. Co-founder Alexis Ohanian is planning a celebration to take place on the third anniversary of the site’s acquisition by Wired Digital on Oct. 31. And there’s reason to think this will be more jovial than your typical Halloween party: Three years is a typical outer limit used in ‘earn out’ agreements, in which startup founders vest progressively more money from their acquirers as time goes on. This gives them incentive to integrate their creation into the acquiring company rather than bolting for the door. Ohanian, believed to be hitting his final earn-out date along with co-founder Steve Huffman, declined to comment.
“Of course, there’s nothing unusual about entrepreneurial Silicon Valley programmers moving on to new challenges. Reddit would likely continue operating just fine without Ohanian and Huffman. And Wired.com marches forward under editor Evan Hansen.”
Read more here.
