It’s been a tough year at Forbes. The media company, which owns Forbes magazine, Forbes.com and a handful of other magazines like Forbes Woman, has already gone through two rounds of layoffs across the business and editorial staffs and more bad news might be on the way.
The New York Post‘s Keith Kelly reported today that Elevation Partners’ co-founder Roger McNamee has stepped down from Forbes’ board and will be replaced by Bre Pearlman, who has “a reputation as an aggressive cost-cutter.”
McNamee (left) was the main driver behind Elevation’s purchase of a 40 percent stake in the Forbes family-owned company two and half years ago but, as Kelly pointed out, his departure from the board may show that the company’s chance for growth is slim.
We’re hearing that the mood within the Forbes editorial offices — which recently completed a merger between the online and magazine staffs — is nervous, which former Forbes staffer Peter Kafka has also reported.
Update: A Forbes publicist sent us the memo that went out to staff today from Steve Forbes.
“We fully understand the concerns that the present difficult environment causes,” the memo said. “We want to thank everyone for their hard work. We profoundly believe that the steps being taken, not only short-term painful ones, but also new growth initiatives, will make Forbes stronger than ever when economic recovery comes.”
The full memo after the jump