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Forbes Cuts 43 in Marketing Mash Up

  • Mediaweek, Tuesday, November 18, 2008 10:45 AM

Forbes Media is slashing 43 jobs as it moves to combine its print and online sales and marketing groups. Ironically, observers have credited the Web/print separation with Forbes.com's development into a robust digital business.

CEO Steve Forbes says the changes will enable the company to respond quickly "when the global economies begin recovering." Many media companies have moved to combine print and online sales as advertisers increasingly ask for integrated packages. Most of the jobs lost come from the business side. Forbes also closed its conference business.

Forbes sales and marketing will now be divided into three units. Leaders of the three groups will all report to an executive triad: Steve Forbes, Timothy Forbes, COO and Jim Spanfeller, CEO of Forbes.com.

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