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Standard sees layoffs
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February 14, 2001: 4:34 p.m. ET
Source: new economy magazine in 2nd round layoffs, to cut 65 positions
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NEW YORK (CNNfn) - New economy publication The Industry Standard plans to announce another round of layoffs next week, a source close to the situation told CNNfn.com Wednesday.
Job cuts could affect up to 65 employees and at least 15 may come from the editorial staff. The Industry Standard plans to announce the job cuts on Feb. 20, the source said.
The Industry Standard declined to comment, while majority investor, the Boston-based International Data Group, could not be reached for comment.
San Francisco-based The Industry Standard, which covers the Internet economy through a weekly magazine and Web site, employs about 400 people. The publication is an online partner of CNNfn.com.
In early January, organizational restructuring and market conditions caused The Industry Standard to lay off 36 people, a spokeswoman said.
More media cuts
The Industry Standard is the latest media outfit to announce substantial staffing reductions. In early January, broadcaster NBC announced plans to lay off up to 10 percent of its work force in a cost-cutting move. The cuts are expected to affect between 280 and 560 of the company's work force of 5,600.
CNN, a unit of AOL Time Warner (AOL: Research, Estimates), also pared down its 4,000 member workforce, while News Corp. (NWS: Research, Estimates) and TheStreet.com (TSCM: Research, Estimates) also recently cut staff.
Investing and personal finance media company The Motley Fool may also get added to the list yet again. The personal finance media company could let go another 25 percent of its work force within 60 days, online reports said.
Bill Dixon, a company spokesman, dismissed the reports. "We have no plans to further reduce our workforce," Dixon said.
On Feb. 8, CNNfn.com reported that The Motley Fool would be dismissing 115 employees and that the cuts would come from its offices in the U.S. and the U.K.
The company, which was established in 1993, employed 355 people before the layoffs. 
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