Crain Communications Lays Off 150; Cuts Salaries 10 Percent Companywide
This story was written by David Kaplan.
Business trade publisher Crain Communications has laid off 150 staffers and sliced salaries across the board by 10 percent, sources tell paidContent. No word on which magazines and whether the business side or the editorial side is bearing the brunt of the cuts. This is the third major paring since closing down Financial Week as a print property in December. Financial Week's life as an online-only mag didn't last long; earlier this month, Crain pulled the plug on the long-standing RCR Wireless brand then shuttered FinancialWeek.com. It also closed two European magazines, Business Insurance Europe and Automotive News Europe. Calls to Crain reps weren't returned. More to come
By David Kaplan