A new round of layoffs swept the International Business Times today, eliminating its Los Angeles bureau and cutting its New York-based staff in half.
An estimated 30 journalists were given pink slips unexpectedly when the digital news site, which focuses on business news and current headlines from around the world, cut its business, media, and technology desks, along with some news editors. Only the breaking news and entertainment desks remain, according to an unidentified IB Times staffer. The company went full-force into video last year – picking up a round of experienced editors and focusing on free, premium content supported by ad revenue.
The latest layoffs at IB Times came just three months after 15 others were laid off. At that time, former Editor-in-Chief Peter S. Goodman left for reasons that reportedly were unrelated. He has since landed at the New York Times as the European economic correspondent, based in London.
Goodman expressed his support for a number of former colleagues as they took to Twitter to announce their departure from the news site today.
The same IB Times employee said that today’s layoffs “came as a total surprise,” but also said that seeing where the first group of layoffs landed and the number of awards the publication has won “shows the quality of journalism the IB Times team produces.”
Representatives from International Business Times Media, which owns IB Times as well as Newsweek, could not be reached for comment.