Martha Stewart expected to cut 100 jobs

New York Post

Martha Stewart Living Omnimedia is expected to fire 100 employees on Thursday, Keith Kelly reported in the New York Post, calling the move “a massive downsizing that is expected to hit the flagship magazine particularly hard.”

Kelly writes that stock prices for the company, once more than $37 a share, opened Thursday at less than $3.

The speculation is that media is going to be deemphasized as the company concentrates more and more on its licensing and products line.


In October, Stewart cast her critical eye on bloggers, Poynter reported.

“Who are these bloggers? They’re not trained editors at Vogue magazine,” she told Stephanie Ruhle (on Bloomberg TV.) “Bloggers create kind of a popularity, but they are not the experts and we have to understand that.”

Meanwhile, Stewart herself apparently spent the morning counting buds on her “Martha” orchid.

 

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  • GChu

    The “massive downsizing” with the 100 employees losing their jobs is linked to New York State Supreme Court judge Jeffrey K. Oing and Terry J. Lundgren, Macy’s CEO. The layoffs resulted directly from interference with the free market economy by judge Jeffrey K. Oing, who is still sitting on the Macy’s case with his preliminary injunction and no decision forthcoming.

  • billmarvel

    Yes, but she’s cutting them with pinking shears, and sewing an attractive fringe around them.

  • dvncmdy

    And that’s a BAD thing!