Employment News
Newsweek Sold For $1; 75 Employees On The Chopping Block
By todd | Dated: 08-03-2010
On Monday, Donald Graham, the chairman and CEO of the Washington Post Company, announced that he had released ownership of Newsweek to the 91-year-old stereo equipment mogul, Sidney Harman.
Staff members at Newsweek may have been mislead when Graham told them that Harman would “keep a majority of Newsweek’s very talented staff.” That, he said, was one of the reasons he felt comfortable selling the financially faulted magazing for $1.
However, according to the New York Times’ Jeremy Peters, roughly 75 employees will be getting the axe. The staff, which was 325 members, will be reduced to 250 by some projections.
Newsweek executives Tom Asheim and Ann McDaniel told employees that they would be given more information about the future of their magazine, and their jobs, in the next three to six weeks.
It is noteworthy that Harman is married to Democratic California congresswoman, Jane Harman.
Career Connect (From our other career blogs):
- Employment News (Sponsored by EmploymentSpectator)
- Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
- Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
- Layoff News (Sponsored by LayOffWatch)
Testimonial of the Week
I was facing the seven-year itch at my previous workplace. Thanks to EmploymentCrossing, I'm committed to a fantastic sales job in downtown Manhattan.
- Joseph L New York, NY
Sign Up now
Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.
- We have more jobs than any other job board.
- We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
- We collect jobs from more than 4,429,376 websites and post them on our site.
- We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.
