Peter Kafka

Recent Posts by Peter Kafka

Forbes Layoffs Finally Arrive: 19 Fired From Magazine, Web

Like their colleagues at Time Warner’s Time Inc. (TWX), the editorial staff at Forbes has known that layoffs were coming to the company’s magazine and Web site for quite some time. But at least they’re getting it over with in one fell swoop: The company let go of 19 people today as it merged the two operations.

Layoffs stink no matter where or when they happen. But since I worked at Forbes for many years and know many of the folks who lost their jobs, today’s news hits particularly close to home.

The best thing you can say about this is that combining the two operations makes plenty of sense on paper, and could ultimately make for a better company if handled correctly. Best of luck to everyone who left today.

Statement from the company:

Today Forbes completed the integration of the editorial staffs of Forbes magazine and We believe this restructuring and pooling of talent will maximize and benefit the editorial content for Forbes’ 40 million worldwide audience.

The current economic situation for media in general has caused Forbes Media to trim budgets on both the editorial and business sides of the company. Today 19 people from editorial were laid off.”

[Image Credit: Matt Krause]