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Labor Day layoffs expected at Bloomberg News

As many as 80 people are expected to receive pink slips at Bloomberg News this week, according to a report.

The New York Post said on Monday that the number of layoffs was slightly lower than was earlier reported by the paper.

The layoffs represent a little over 3 percent of Bloomberg’s news force. Bloomberg has more than 2,200 journalists working in its global newsrooms.

The layoffs come amid editorial restructuring at Bloomberg since former mayor and news namesake Michael Bloomberg resumed as head of the company earlier this year. The shift, sources told the Post, are designed to place more emphasis on Bloomberg’s money-making terminals as well as political and government reporting.

Bloomberg operates the Bloomberg News wire as well as several broadcast outlets.

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About the Author:

Matthew Keys

Matthew Keys is the publisher of The Desk and reports on the business and policy matters involving the broadcast television, streaming video and radio industries. He previously worked for Thomson Reuters, Disney-ABC, Tribune Broadcasting and McNaughton Newspapers. Matthew is based in Northern California, has won numerous awards in the field of journalism, and is a member of IRE (Investigative Reporters and Editors).