It’s been no secret that the return of Mike Bloomberg to his financial news empire would bring changes in personnel and strategy. Now it’s apparently bringing layoffs. The devil of their true significance will be in as-yet-undisclosed details.
Citing “sources,” the New York Post says that the company, which employs 2,700 journalists worldwide, is gearing up for about 100 layoffs, or 4.2 percent of its force, in coming weeks. The company had no immediate response.
Many of the layoffs are expected to target politics and government reporters out of the New York and Washington, DC, bureaus, two sources told The Post.
Those politics and government reporters have been a source of much internal debate, especially with Bloomberg’s return after serving three terms as New York City’s mayor. Read more