Layoffs Hit Hanley Wood
At least 16 staffers, including directors and top-level editors, have been let go across multiple departments, per sources.
Several staffers have been laid off at Hanley Wood, one of the largest B2B media and information firms in the country, multiple sources have confirmed to Folio:.
The exact number of staffers let go — or which specific areas were affected — remains unclear, but many of the cuts appear to be centered around the editorial side of the business, including nearly the entire Radar Desk, a team staffed with aggregating digital content from across the company’s brands, created in 2012 as part of the company’s digital restructuring.
Elsewhere, cuts are said to reach as high as the VP and director levels, and include at least one brand’s editor-in-chief.
Hanley Wood’s portfolio includes about three-dozen media properties serving various sectors of the commercial and residential real estate, design, and construction industries, centered around seven “hub brands,” such as Architect, Builder, and the Remodeling. Based in Washington, D.C., the company also maintains locations in Chicago, Los Angeles, Minneapolis, and an Irvine, CA office for its Metrostudy data business.
One source puts the total number of employees let go at 16, across multiple locations.
Hanley Wood declined to provide details on the cuts, but did issue the following statement:
In 2013 Hanley Wood embarked on an ambitious digital and data transformation that resulted in five straight years of top and bottom line growth. Today, the company is focused on seven major hub brands – each with a companion print magazine, further supported by 35 digital and data platform brands. Transforming the company from 36 magazines – in 2007 – to seven hub brands today has resulted in required changes in skill set. Hanley Wood is well positioned to continue on its growth trajectory supported by a high value revenue mix and content platforms its audiences and customers require.