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Forbes To Axe 100 Staffers

As it "restructures" for the Web, Forbes now plans on firing 100 employees, from both the editorial and business side. The editorial cuts came Wednesday, according to The Business Insider. Earlier this week, publisher Steve Forbes sent a memo to staff, explaining: "On the editorial side, we will maintain the essential strengths of Forbes while also deepening our relationships with our community ... On the advertising side, we are making shifts to fully meet marketers' evolving needs ... These current difficulties are a more intense version of what we underwent eight years ago, particularly after 9/11."

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