The Deal Cuts 10 Percent
Layoffs at financial newsweekly company-wide, spokesperson says.
New York-based financial newsweekly The Deal Monday reduced its overall workforce by 10 percent, FOLIO: has confirmed.
The cuts were company-wide and represented roughly 15 employees. Prior to the layoffs, The Deal employed more than 150 employeesâ€”including 75 full-time staffers, the company said.
In addition to The Deal magazine, other products produced under The Deal umbrellaâ€”which serves corporate and financial dealmakers, advisers and institutional investorsâ€”include The Daily Deal and TheDeal.com. In October, The Deal launched The Deal Pipeline, a subscription-based real-time news site.
Launched in 2000, The Deal is a privately held company owned by invesment funds including U.S. Equity Partners and Wasserstein and Co.