"Michael Forsythe, the Hong Kong reporter who was fingered and quickly suspended for leaking embarrassing claims about Bloomberg spiking a story that could have angered China officials, was officially fired."...
11/18/13, "Bloomberg News lays off 50 reporters, editors," NY Post, Keith J. Kelly
"About 50 reporters and editors at Bloomberg News were laid off Monday, the largest one-day cuts in the company’s 30-year history.
The job cuts represented about 2 percent of the payroll. The Monday moves come on top of about 10 cuts at Bloomberg TV last week.
A Bloomberg spokesman maintained that the job cuts weren’t that deep. Some people are being reassigned, he said, putting the total layoffs at “less than 40 people.” The culture-and-entertainment section was curtailed and the “muse” name that it had operated under is being phased out.
The company said it will no longer match sports reports with its own original reporting.
Also, the Washington office, which was being beefed up a few years ago, absorbed at least eight cuts. The Bloomberg “projects and investigations” unit was also crimped.
Meanwhile, Michael Forsythe, the Hong Kong reporter who was fingered and quickly suspended for leaking embarrassing claims about Bloomberg spiking a story that could have angered China officials, was officially fired.
“Michael Forsythe in no longer with the company,” said a Bloomberg spokesman.
“Morale has never been lower at Bloomberg,” said one insider. Among those departing were Rich Jaroslovsky, a former executive editor and now a columnist. “Highly unwelcome news. I was just laid off from Bloomberg News,” he tweeted Monday.
“Bloomberg News ended its culture coverage today,” tweeted Jeremy Gerard, the chief drama critic, who was among those pink-slipped.
Charles Babcock, a project and investigations editor who was expected to retire at year-end, was also among those let go, according to Talking Biz News.
Richard Teitelbaum, who worked on the billionaires team, was also out of a job.
Editor-in-Chief Matthew Winkler, in a memo, said that the layoffs stemmed from an October reorganization.
The memo did little to soothe feelings. “He barely acknowledged the layoffs,” said one staffer who called the note “chilly.”"
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11/18/13, "Bloomberg News to cut staff amid charges of self-censorship," Poynter, Beaujon
"The Wall Street Journal | New York Post | Talking Biz News | The New York Times"
"Bloomberg News plans to eliminate 50 jobs from sports, A&E and investigative coverage, William Launder reports in The Wall Street Journal. Bloomberg employs 2,400 in its newsroom, and its “major business is selling financial data on terminals,” Launder writes. But:
The market for financial data has experienced slower growth in recent years as big banks cut back on their head count, thereby reducing demand for new terminals, and as Europe’s economies struggle with a prolonged downturn.The cutbacks arrive as the company faces reports it declined to publish stories that might upset Chinese authorities. Bloomberg News suspended Michael Forsthye, a reporter on one iced story, after a New York Times article about the purported self-censorship.
Amanda Bennett, Bloomberg News’ former executive editor for investigations, recently resigned, Chris Roush reported last week. “I’m also most proud of the groundbreaking June 2012 story that the team led, that for the first time exposed the wealth of the relatives of China’s top leaders,” Bennett told Roush in an email. “I’m proud of the courage it took from top to bottom in Bloomberg to make that happen.”
Bloomberg News Editor-in-Chief Matthew Winkler tells Edward Wong and Christine Haughney of The New York Times that the stories in question “are active and not spiked.” He would not comment on a conference call last month with Forsythe and others to discuss the company’s decision not to publish the stories.
In the call, Mr. Winkler defended his decision by comparing it to the self-censorship by foreign news bureaus trying to preserve their ability to report inside Nazi-era Germany, according to the Bloomberg employees familiar with the discussion. “He said, ‘If we run the story, we’ll be kicked out of China,’ ” one employee said.""=========================
11/18/13, "[UPDATED] Bloomberg News lays off dozens of journalists," JimRomenesko.com
"Some of the Bloomberg News journalists laid off today, according to Talking Biz News:"...
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