The Deal Cuts More Than 10 Percent Of Staff; VC, Tech Coverage Takes A Hit
This story was written by David Kaplan.
Financial news mag TheDeal has laid off 19 staffers, or more than 10 percent of its staff, Folio reported. A rep for TheDeal confirmed that the magazine had reduced the staff, but declined to provide numbers. The company, which is owned by PE firms U.S. Equity Partners and Wasserstein and Co., had about roughly 150 staffers and about 75 reporters, sources told paidContent. Specifically, we heard that four of the six reporters on Techconfidential.com were let go. As part of the cutbacks, Techconfidential, which covers venture capital investments, will cease to be a standalone site as of next month. In keeping with previously announced plans, TheDeal's print version is scheduled to go from weekly publication to biweekly next year.
By David Kaplan