Bloomberg to cut approx. 100 editorial jobs
Could it really be another disaster in the making? Financial news agency Bloomberg is set to announce devastating news come early September; it plans to sack up to 100 editorial position from its division. The group, which currently employs up to 2400 journalist across the globe, is rumored to be targeting the political and government reporters division located in and around the New York and Washington DC areas. This news is not directly confirmed for full authenticity’s sake, but could be related to an incident back in June when a reporter allegedly made a negative comment on company matters. The comment was leaked and the reporter was fired the following month.
The cut will see a near 4.2% reduction in the number of employees in the editorial division. Mike Bloomberg said that the link plugging for new hires has been turned off and refused to discuss at what point it will resume.
The internet is setting off in a buzz in regard to why this decision has been made, but employees from the administrative department of the company declined to comment as it is company policy not to discuss internal affairs. Some speculate that a major disagreement between the two major branches - the New York office and the Washington Bureau – is cause for the cut.
Yet, no one can be certain of the actual reasons. Other speculations include a rapid increase in employee turnovers, lack of good leadership and low morale implications. But as expected, sources from within the firm have refuted these claims as they strive to uphold and maintain the integrity that they have been known for over the years.
Whichever way, it will be a sad moment for all those who will be at a loss in this unfortunate circumstance.