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FIRING AND HIRING: Roughly 25 Bloomberg BusinessWeek staffers were let go Thursday, as the magazine preps for a redesign and irons out redundancies within parent Bloomberg LP, which purchased the weekly business title from McGraw-Hill last October. In addition, between 10 and 15 positions are being shifted from BusinessWeek over to Bloomberg News; staffers reassigned to the news service will continue to write for the magazine.
This is the second wave of layoffs at BusinessWeek (which cut about 30 percent of its staff in November), but the first under Bloomberg’s official ownership. This time around, the art and photo departments were said to be hit hardest — unsurprising given editor in chief Josh Tyrangiel’s recently unveiled plans for an inside-and-out redesign of the magazine, where ad pages have declined 20 percent, to 158 pages, year to date, according to Media Industry Newsletter. The “new” BusinessWeek will make its debut April 23.
Among those laid off in the editorial department were senior writers Tom Lowry, who wrote about media and entertainment, and Michelle Conlin, who, ironically, covered the labor market and work culture.
“We are more deeply integrating our editorial team with Bloomberg’s, one of the world’s largest news organizations,” said a BusinessWeek spokesman. “As a result, there are some job redundancies, as well as areas that we will be strengthening through new hires.” To this end, sources speculated the magazine will make somewhere in the range of 10 to 15 hires in the coming months.
— Nick Axelrod