Media News: Crain’s New York lays off 40 percent of editorial staff 

Sadly another media company is circling the drain. Yesterday, Crain’s New York Business revealed that it laid off a dozen reporters and editors – 40 percent of its full-time editorial staff. Crain’s publisher Jill Kaplan cited a need to “re-align the brand’s costs with its revenues,” according to people who described the company’s explanation for the downsizing. [via]

Sal Conforto, publisher of The Bronx Chronicle, acknowledge that media in the age of the internet and online news is a competitive challenge that media companies face. “It’s sink or swim. And sometimes layoffs are the only way to keep a company from drowning in a sea of red ink,” said Mr. Conforto.

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