So You Want to Be a Publisher?
November 18, 2013
I read “Bloomberg Newsroom to Lay Off 50” in the Wall Street Journal on November 18, 2013. (Note that this link may go dead or require that you pay to access the story.) The story appeared on page B-4 of the old-fashioned copy that finds its way to me—-usually.
The story contained three fascinating factoids. The first was the reduction in force (RIF) at Bloomberg. Then there was information about the Thomson Reuters’ RIF of 3,000 jobs, and finally the “minimal decline” in News Corp. of the alleged phone-related approach to news gathering.
In short, if the assertion that the economy is rebounding, why are these outfits admitting that employees have to go?
The question I have, “Is staff reduction the easiest way to cut costs?” My assumption was that new products and new services would attract paying customers. With the warm snuggles of innovation, sophisticated, able companies would prosper.
Firing those who work at information centric companies provides a partial answer to the question, “So you want to be a publisher?” The individuals who have to find a new job may start creating content.
That’s a plus for those who have a thirst for information. Manufacturing more competitors for organizations like Bloomberg, Thomson Reuters, and News Corp. may have unintended consequences.
I hope the new publishers are able to get their content indexed by an outfit like Blekko/Yandex.
Stephen E Arnold, November 18, 2013
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