BusinessWeek employees are waiting to hear if they’ll have jobs once Bloomberg takes over the publication, and I’m told that staffers expect to hear their fate shortly after Thanksgiving. That has to be unnerving, but I can at least offer a little bit of comfort in the worst-case scenario employees would be facing had they been purchased by private equity firm ZelnickMedia. The short version: Almost everybody gets fired.

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In certain circles, David Letterman’s extortion/adultery story is huge news. On YouTube? It’s overshadowed by an “Ultimate Fighter” match.

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This is the way the Internet is supposed to work: Something amazing happens on TV on Thursday night and everyone talks about it, and watches it, on the Web on Friday.

Today’s example: David Letterman’s startling admission, broadcast on his CBS show last night, that a network employee had tried to extort him.

That’s something you’re going to want to watch, right? And sure enough, the world’s largest video site obliges, even if it’s a little bit unwilling.

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Nikki Finke, the Hollywood power blogger who recently began working for Jay Penske’s Mail.com Media Corp., has a new Web site. And soon, she will have a new employee–a “well-known figure from established media.” But who is it?

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Sure, fabled magazine publisher Condé Nast has been forced to shutter magazines and trim its staff. But now you know things have really gotten dire: They’re cutting back on cars. Top Condé editors are eschewing the use of chauffeured autos to make their way across Manhattan and beyond. Alas, that kind of cost-cutting likely won’t stave off another round of layoffs.

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CBS paid $1.8 billion for CNET last summer, and today it is dealing with the consequences: A re-org and layoffs. CBS execs won’t release a total for the number of people fired, so news will be coming out in piecemeal fashion for some time. In the meantime, here’s CBS Interactive’s new corporate structure, detailed in an internal memo distributed late today.

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