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Forbes Lays Off Around 5% of Staff

Adweek · Mark Stenberg · last updated
The business news publisher Forbes announced a sweeping round of layoffs on Friday, which will affect roughly 5% of its total workforce. In a note shared with staff internally, the newly appointed chief executive Sherry Phillips blamed financial underperformance for the cuts.

Related Knowledge Center: State of the business model

State of Play

The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.

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