IBTimes Lays Off Over 30 Staffers, More Losses Expected at Newsweek (Report)

Parent company IBT Media is in the midst of “restructuring”

Last Updated: June 30, 2016 @ 8:37 PM

IBT Media has laid off staffers for the second time in a matter of months, Recode reported.

On Thursday, more than 30 reporters and editors at IBTimes were let go, including editor Michael Learmonth and media reporters Oriana Schwindt and Brendan James, as the company shut down entire sections of operation. In January, IBT’s newsroom consisted of 85 staffers, but it is now around 23.

IBT Media also owns Newsweek, which Recode predicts will lost five to 10 staff members Friday.

The company has described the situation as a “restructuring,” which includes “siloing Newsweek from the other IBT Media sites. This is a move that could make it easier for the company to sell Newsweek,” Recode’s Noah Kulwin reports.

One victim of the layoffs said IBT Media eliminated its international, business, technology, media and culture news desks, along with its graphics team and copy desk, Politico reported. The site said only the entertainment, sports and breaking news desks surviving unscathed.

Laid-off journalists who do not find new jobs within two weeks will be eligible for small severance packages — one week of pay for every year with the company. Most of the laid-off employees had been with IBT Media for fewer than four years, Politico stated.

IBT Media also announced that Newsweek will split off into a separate operational entity, but Global Editor in Chief Jim Impoco will continue to lead the masthead.

Other IBT Media brands, including the International Business Times, Medical Daily, iDigitalTimes, Fashion Times, and the Latin Times will be moved into a more integrated structure which will allow for both operational and editorial efficiencies, according to the company.

“This restructuring will allow us to continue to support the growth of IBT Media and Newsweek” Etienne Uzac, CEO of IBT Media, said. “Our overall plan, which includes some staff downsizing, is part of an overall plan to drive efficiencies throughout the company.”

See tweets from former staffers below.