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Cahners cuts 300 jobs in restructuring

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Newton, Mass.--Cahners Business Information announced Thursday a restructuring that includes the elimination of 300 jobs, about 7% of the company's work force. The job cuts were necessary because of decreased print ad revenues in the first half of 1999 and increased investment in Cahners' Internet products, said President-CEO Bruce Barnet. Most of the job cuts come from the production, circulation and human resources departments, said Margaret Pantridge, Cahners' director of corporate communications, although some editorial positions were eliminated. In addition to slashing jobs, Cahners further restructured its management responsibilities by naming Brian Nairn to the position of COO. Mr. Nairn will continue to have responsibility for Cahners' business publications division.
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