Thursday, May 21, 2020

"Atlantic Media lays off 20 percent of staff amid advertising collapse"

This is the reason I was going on about showing some compassion for people who wanted to get back to work.
We are not "all in this together." Politicians and Federal government employees are getting checks. People of means don't feel any pressure. To date state and local government employees are still getting paid although that may change if states stay shut down. More after the jump.

From the New York Post:
Atlantic Media, publisher of The Atlantic magazine, said it will cut about 20 percent of its staff in response to the advertising collapse tied to the coronavirus crisis.

Chairman David Bradley, a health care billionaire, revealed the news in a memo to staffers on Thursday.
“This morning, we are informing 68 of our colleagues that we will not have a place for them on The Atlantic’s new course. The contraction affects mainly our events, sales and editorial staffs.”
He said for the remaining 80 percent of the staff, there will be “pay cuts for executives and a general pay freeze for the rest of the year.”

Bradley sold majority control to the Emerson Collective, a non profit controlled by Laurene Powell Jobs, the billionaire widow of Apple co-founder Steve Jobs in 2017.

At the time, Bradley said he would stick around as the operating partner “from three to five years” and that within five years it was said at the time that Emerson “will most likely assume full control in five years.”....

If interested see May 7's "OMG, Did You See The Texas Swat Team That Raided The Quarantine Violators?
I've seen some journalists making fun of folks who feel real urgency to reopen the economy and get back to work and earn a living.
And I understand their point.
It's fun to punch down and get your giggles while still collecting a paycheck.
It's called "Social Sadism and the Sadocratic Impulse".

But there are other ways to get your cheap yucks. Here's one of them.....
Earlier today:
Media: "The Economist Group Lays Off 90 Staffers and Shuts Down Print Edition of 1843"

As noted in 2017's "Shave the Billionaire or Life Has Its Ups and Downs":
Medieval Europeans were firm believers in the Wheel of Fortune:

E027044 Royal 18 D. ii f. 30v
Detail of a miniature of the Wheel of Fortune with a crowned king at the top, from John Lydgate's Troy Book and Siege of Thebes
with verses by William Cornish, John Skelton, William Peeris and others, England, c. 1457 (with later additions), Royal 18D. ii, f. 30v.
-from the British Library Medieval manuscripts blog

Sometimes you're up, sometimes you're down.