The restructuring was announced to the Forbes staff Monday in an internal memo from Chairman-CEO Steve Forbes. He said the changes "will enable us not only to better weather the current economic storm, but to move ahead quickly and profitably when the global economies begin recovering.”
The combined sales and marketing team will be organized into three new entities: the brand intelligence group, a consultancy that will work with Forbes' biggest advertisers; the integrated solutions group, which will create multichannel marketing campaigns for Forbes customers; and the media sales and service group, the company's regional sales employees, who will be consolidated into regional business centers.
Among other changes at Forbes, the company's online brands, including Forbes.com, Investopedia and RealClearPolitics.com, will be combined. Meanwhile, luxury travel resource ForbesTraveler.com will be scaled back, and ForbesAutos.com will be shut down.