Now that the latest round of brutal layoffs is under way at the publication known as the Capitalist Tool, word on the street is that Forbes is looking to take its content in a new direction.
This week’s cuts — which were said to affect as many as 100 employees company wide — are just the latest in a series of changes Forbes has made in the past year. Last November, the company shuttered ForbesAuto.com, laying off its employees. A sister site, ForbesTraveler.com, remained open — until this week. We’re told that site has now been shut down as well, with its content being woven into Forbes.com.
Another round of layoffs hit the company in January, as Forbes prepared to merge its print and online editorial operations. Comparing lists of names of those cut then compared to this week, however, it became obvious that there was a shift in the weather. And speaking with some of those employees who got the boot yesterday, we knew we were on to something.