Oxfeld was here back in the good old days, co-editing Gawker with Jessica Coen. He left in 2006 and went to New York, where he and Carl Swanson edited the front-of-the-book Intelligencer section. But New York is cutting back like every other magazine, although they're being quieter about it.
We hear the magazine plans to use more of their online Daily Intel content for the magazine, so they felt they could cut back on editor positions. They're also trying to cut back on their freelancer budget, and have their many, many contract writers fill up their full allotment of words.
[UPDATE: More info from Jeff Bercovici]