Reed Business Information CEO Tad Smith Tuesday announced "the very painful step" of a 7% layoff of employees across the board, which affected all publications, including
Variety.
In an email to RBI staffers, Smith said that the company had made cuts in other areas, emphasizing that the layoffs were not decided upon lightly.
In late January, Smith had hinted "that we might reduce further our staffing levels if the economic circumstances became worse than our already conservative expectations for 2009. We are in that unfortunate situation today."
Aside from the
Variety publications, RBI consists of info services and multiple print/online offerings, including Broadcasting & Cable, Video Business, and L.A. 411.
Among those ankling
Variety are exec editor of news Michael Speier and assistant managing editor Dade Hayes.
Contact Variety Staff at
news@variety.com