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MORE EXITS: The layoffs have begun at BusinessWeek as staffers learn this week whether they will continue with the magazine once its sale to Bloomberg is complete. According to sources, about 20 staffers were let go in the online and multimedia departments on Wednesday, just a day after Bloomberg named time.com managing editor Josh Tyrangiel its new editor in chief. BusinessWeek employees have had to reapply for their positions and outline their duties to Bloomberg’s top brass and advisers during the transition of ownership from McGraw-Hill to Bloomberg, and are being notified if they will remain at the magazine. Earlier this week, several staffers on the business side were let go. Layoffs are expected to continue through the rest of the week and, according to reports, some estimate about 100 staffers could be let go as a result. Some of those staffers could be placed elsewhere within Bloomberg.
— Stephanie D. Smith