Bloomberg LP, the financial/media giant will close out the summer with a bang when it eliminates some 100 editorial jobs. During founder/CEO Mike Bloomberg's absence from the company, Bloomberg's media division went on a hiring spree to bring in some of the best of the best to produce content for the media division's ambitious digital strategy as well as its print products. But according to some, Mr. Bloomberg isn't fully on board with that strategy because he thinks it threatens the company's bread and butter business which is the terminals the company sells/leases to Wall Street giants. These cuts indicate a shift in direction lead by Mr. Bloomberg's hand picked editorial chief John Micklethwait. Both Mr. Micklethwait and media head Justin Smith were pitted against each other by Mr. Bloomberg who told them that they are both in charge. These pending cuts come after the company hired away Dan Niemi from the New York Times to lead a new fast commentary operation which
it plans to hire 30+ reporters for.
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8/20/2015
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