Crain Communications, publisher of Advertising Age, Crain’s New York Business, and Financial Week, has laid off 60 people, or about 6 percent of its 1,000-person workforce.
The bulk of the layoffs were at two-year-old Financial Week, the award-winning weekly, which published its last print edition on Dec. 7 and will now be only a digital publication.
As a result of the move to digital-only publication the editorial staff is shrinking from 18 people to four. The laid-off include the launch Editor-in-Chief Glenn Coleman. At Ad Age, the cuts included four editorial people and two business people.