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Layoff Train Stops at Forbes
- Daily Finance, Wednesday, October 28, 2009 12:50 AM
Forbes embarked on a fresh round of layoffs this week, just six months after the company eliminated a reported 50 jobs and treated remaining workers to pay cuts, furloughs and a suspension of
retirement contributions. It's the magazine's fourth round of cuts in a year.
As of Tuesday, the only employees let go were an estimated 30 staffers on the business side. Editorial layoffs
are slated to come down today. Insiders predict that Forbes will retain its biweekly frequency, and instead lower its rate base, currently set at 900,000, to save money.
Some media observers, however, insist that Forbes will eventually follow the lead of Fortune, which is reducing its number of issues per year from 25 to 18.
