Last week we heard large-scale layoffs are hitting Forbes this week. An insider tells us "at least three" sales staffers were canned today. FishbowlNY got an internal memo from Steve Forbes telling his staff about what's to come:
We — and the entire media world — have been hit hard by both the severe recession and the seismic shifts wrought by the Web. Given these dramatic events, further layoffs, unfortunately, are necessary across the entire organization...On the editorial side, we will maintain the essential strengths of Forbes while also deepening our relationships with our community. On the advertising side, we are making shifts to fully meet marketers' evolving needs.