Whoa Nellie. The financial crisis has started to take a major toll throughout media precincts. B-to-b publisher Nielsen Business Media cut 11 positions Tuesday from its Adweek Media Group (Adweek, Brandweek, Mediaweek) as part of a restructuring; the three brands will remain intact but will coordinate content and distribution through a single editorial organization. The Financial Times, which is owned by U.K-based Pearson, said it’s cutting 60 jobs, most of them in commercial departments, while industry rival Thomson-Reuters is reportedly bracing for significant layoffs. With massive layoffs throughout the banking industry, demand is softening for Reuters’ news and data terminals. The New York Post reports that Time Inc. (People, Sports Illustrated, Time, et al.) is gearing up for a new round of layoffs.
