Entrepreneur Editors Ask for Buyouts
Four editors receive severance packages upon request.
Four editors asked forâ€”and receivedâ€”buyouts this week at Entrepreneur magazine.
The editors include: research editor James Park, associate/copy editor Kim Orr, associate editor (listings) Allison Gergley and associate Web editor Elizabeth Wilson.
â€śThey approached us and said if we were thinking of doing layoffs that theyâ€™d be interestedâ€ť in leaving the magazine, Entrepreneur vice president and corporate publisher Ryan Shea told FOLIO:. â€śWe werenâ€™t expecting to lay anyone off, but figured that if these people arenâ€™t happy then itâ€™s affecting their work here."
â€śWe didnâ€™t have to, but we offered them a nice severance package and parted ways,â€ť he added.
Shea attributed the defections to the departure of longtime editorial director Rieva Lesonsky in April 2008. She was replaced last June by former WiesnerMedia business development vice president Amy Cosper, who serves as vice president and editor-in-chief.
â€śThe editors who left were hired by the previous manager,â€ť said Shea. â€śSometimes when new management comes in, certain people hold loyalties to the former manager. And, hey, thatâ€™s fine. Loyalty is hard to come by.â€ť
Separately, designer Brian Takeda and junior designer John Cheresh quit recently, Shea said. Entrepreneur has seen numerous departures in recent months. In April, eight staffersâ€”including the executive and managing editorsâ€”were said to have been laid off. Longtime president Neil Perlman retired earlier this year.
Entrepreneur plans to take advantage of the recent departures, according to Shea, by combining two of the editorial positions and the two design positions and hiring two replacements, as well as another online staffer.
â€śBottom line, weâ€™re producing a better product with fewer, better people,â€ť Shea said.