Newsweek Braces for Cuts After Layoffs at Sibling International Business Times

IBT Media Splits Newsweek Into 'Separate Operational Entity'

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The first issue of Newsweek's revived print edition in 2014.
The first issue of Newsweek's revived print edition in 2014. Credit: Nicholas Kamm/Getty Images

Dozens of International Business Times journalists were terminated Thursday in what parent company IBT Media called a "corporate restructuring."

IBT Media split Newsweek, which it purchased in 2013, "into a separate operational entity," it said in a statement.

The other media brands under the IBT Media umbrella, including the downsized International Business Times, Medical Daily, iDigitalTimes, Fashion Times, and the Latin Times, "will be moved into a more integrated structure which will allow for both operational and editorial efficiencies," the company said.

"This restructuring will allow us to continue to support the growth of IBT Media and Newsweek," IBT Media CEO Etienne Uzac said in the statement. "Our overall plan, which includes some staff downsizing, is part of an overall plan to drive efficiencies throughout the company."

IBT Media executives did not respond to requests for further information.

Some Newsweek journalists are expected to be terminated as well, though the cuts have not yet been made, according to people with knowledge of the situation. Jim Impoco will remain editor in chief under the new structure, according to the release.

Several International Business Times news desks, including business as well as technology and media, were eliminated, and "at least 30" employees were affected, according to a Politico Media report.

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