I don't have much in the way of details ... but it appears that there have been layoffs at Penton.
According to a comment on a post from yesterday about layoffs, 42 people at Penton have been let go. If true, the firings come two months after CEO John French announced a hiring freeze and asked company managers to reforecast all revenue and expenses for 2008.
I'll be checking Folio for news on the situation. And I'll see what, if any, details I can pick up myself in the next hour or so before I have to head to a meeting.
Update: Folio confirms that 42 people have been laid off.
tags: journalism, b2b, media, trade press, magazines, newsletters, business media
Do you know which offices/publications were affected?
ReplyDeleteSorry, I don't have any details. I heard that there were layoffs in both NYC and Cleveland. But I don't know more than that.
ReplyDeletePerhaps a reader with some details will post a comment.
I was one of the 42. My department represented less than 1% of employees, but 10% of the layoffs (it was cut in half). There were layoffs I know of in Atlanta, Minneapolis and Overland Park in addition to NY and Cleveland. 8 of the layoffs were from the custom media division.
ReplyDeletesorry to hear you were laid off. it's not easy to find a jpb in our field atm, but I wish you all the best
ReplyDeletePenton just did more layoffs last week and not just support staff, but many sales people.
ReplyDeleteLooking for confirmation on the Penton layoffs. I heard at least one chief editor also got laid off, from HPAC Engineering.
ReplyDelete