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Standard Media reportedly plans more layoffs

Published on .

New York--Less than a week after rumors surfaced that it was up for sale, The Industry Standard, published by Standard Media International, reportedly plans to announce a third round of layoffs. The New York Times said the layoffs could come before the end of the week, and that salaries for remaining workers could be cut by as much as 15%. A spokeswoman for Standard Media would not comment. Ad pages for the Standard through June were down 80%, to 141 from 711, compared with the same period last year, according to the Publishers Information Bureau. Ad revenue through June was down 72% to $4 million from $15 million.
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