New York—Prism Business Media plans to cut 56 jobs by the end of the year as part of a continuing restructuring effort, BtoB has learned.
The majority of cuts will be from the production, finance and audience marketing groups, and will mostly affect the company’s offices in Overland Park, Kan., and Indianapolis. Sales and editorial will not be affected, according to the company.
Two weeks ago, the company laid off five employees from its Stamford, Conn., marketing office. It has also shuttered Grounds Maintenance with the October issue, resulting in the loss of several other jobs.
The planned cuts will leave Prism with about 900 employees.
“It was a difficult thing to do, but it’s the right decision for the health of the company,” said Prism President-CEO John French. He added that the cuts “will make the company more efficient from the inside out and enable us to invest more on the product side of the business.”
French would not rule out additional cuts, but said none were currently planned.