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AND THEN THERE WERE...: Lewis D’Vorkin might only be a month and change into his new gig as chief product officer of Forbes, but it appears his masthead makeover is well under way. The magazine lost its second (of two) chief editors Tuesday when longtime staffer William Baldwin said he was stepping down after 11 years as editor. But he’s not exiting completely; his new role will be “contributor, columnist and blogger, with the title Investment Strategies Editor,” according to a memo from Forbes editor in chief Steve Forbes (translation: freelance, no health benefits and no paid vacation). Baldwin’s exit follows that of fellow editor Paul Maidment last month. (Maidment had overseen forbes.com and top-edited the magazine along with Baldwin.) “Right now, there is no editor,” said one source. D’Vorkin did make a hire earlier this month — Andrea Spiegel, former AOL exec, was brought on as vice president of new product development.
Meanwhile, it looks like Baldwin’s new role is a harbinger of D’Vorkin’s plans for the struggling business biweekly, which reportedly include supplementing staff contributions with content from an army of freelancers — writers, bloggers, etc. — all clearly aimed at lowering overhead. Given Forbes’ dismal ad performance, that’s no surprise: Year to date, ad pages are down 11.16 percent, to 841, according to Media Industry Newsletter. A spokeswoman for Forbes did not respond to a request for comment. — Nick Axelrod