Categories: OLD Media Moves

What does the turnover at Business Insider mean?

Tom Kludt of CNNMoney.com writes about the recent turnover at Business Insider, which has lost some of its top editors and reporters in the past two months.

Kludt writes, “Blodget, a former stock analyst who agreed to a lifetime ban from the securities industry to settle allegations that he gave out fraudulent advice, tried to ease concerns over recent departures during a staff meeting held last Wednesday at the company’s headquarters.

“He told those gathered in the newsroom that turnover is actually an encouraging sign because it means that employees are succeeding.

“In a statement to CNNMoney, Blodget noted that Business Insider’s newsroom has grown 70% in the last year, a time when other outlets have cut back.

“‘It’s always sad to say goodbye, but we have incredible journalists who are in great demand, and they are frequently presented with wonderful opportunities elsewhere,’ he said. ‘Happily, we have a very deep bench and amazing new colleagues joining us all the time, so our team just gets stronger.’

“A spokesperson said that Business Insider has hired 24 new editorial employees since November, when Axel Springer officially acquired the company.”

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.

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