New York Media, the parent company of New York magazine, laid off 16 full-time staffers and an additional 16 freelancers or part-time employees as the publication restructures, chief executive Pam Wasserstein said in a memo to employees on Monday.
The cuts represent about 5% of New York Media's full time staff."It has been a difficult day here," Wasserstein wrote in the memo obtained by CNN Business, adding that the change"reflects tough decisions" she had made with the management team over the last several months. Wasserstein said the teams most impacted by the cuts were the video department, audience development team, and copy and fact checking.
Adam Moss reflects on 15 years at New York Magazine in the era of digital transformationRead MoreAs the layoffs occurred on Monday, one laid off New York magazine staffer described the mood inside the offices as"chaotic," saying people started to panic as word spread throughout the newsroom. The person said some staffers shed tears in the newsroom.
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