 |
Snap Inc., the parent company of image-messaging service Snapchat, has shed around two dozen employees in its New York and London offices, according to CNBC. The layoffs included several members of the company’s content team, which curates both feeds for user-generated Snaps, known as Our Stories, and the publisher-initiated Discover channels. Snapchat has had a hard time keeping up with its larger rival, Facebook-owned Instagram, as it has copied several Snapchat features. While Snapchat reported 178 million daily active users in November, Facebook’s global head of sales Carolyn Everson says that Instagram Stories is reaching 250 million daily active users. Snap lost nearly $179 million during the third quarter of 2017. The new layoffs come after Snap cut the size of the team that produces Spectacles, its sunglasses that can be used to record images, and dropped close to 20 jobs from its recruiting team as part of plans to slow hiring this year.
 David Shipley |
Bloomberg is shutting down its financial commentary brand Gadfly in an effort to place all the opinion offerings of its news service under one umbrella. Launched in 2015, Gadfly, designed as an extension of the Bloomberg View opinion column, aimed to offer fast analysis of financial, corporate and technology news. Gadfly content can be accessed on Bloomberg terminals or at bloomberg.com. “We’re simply combining our various opinion brands into a unified global platform, Bloomberg Opinion,” Bloomberg commentary editor David Shipley told the Wall Street Journal. “Labels may change, but the jobs, journalism and goals remain the same.”
 |
Bonnier, the Swedish publisher behind such titles as Field & Stream and Popular Science, is turning five of its magazines into digital-only brands. It has also laid off the editor-in-chief, creative director and photo editor of food and travel focused Saveur, which will go from six issues a year to four. The magazine will now share resources with other publications in a fashion similar to that used by Conde Nast and other major publishing houses. About 70 employees in all are set to lose their jobs due to the changes. The titles that will be no longer be produced in print are WaterSki, Wakeboarding, SportDiver, Baggers and Dirt Rider.
 Natasha Bertrand |
The Atlantic has hired Natasha Bertrand, currently a political correspondent for Business Insider, as a staff writer for its Politics & Policy team, covering national security and the intelligence community with a focus on developments in the Trump-Russia investigation. The magazine has also brought on James Somers as a contributing editor, writing about technology, data and computing. Last week, the publisher announced that Elaina Plott and Reihan Salam will join as politics staff writer and contributing editor, respectively. Readership of TheAtlantic.com grew nearly 30% in 2017, and the print magazine now has more than 570,000 subscribers.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.