According to reports reaching Oyogist.com, Bloomberg News has initiated plans to suspend 90 of it’s the editorial and research staffs after management concluded editors reported stories late.
Blommberg’s editor in chief, John Micklethwait said the cuts affect less than 3% of the staff in those departments.
Micklethwait said Further;
“However, we all know that we also ‘lost’ stories because we moved too slowly. Teams waited for somebody to back-read a piece or ignored the requests from the News Desk to get a blast out quickly. Managers spent too much time setting up conference calls when they should just have been writing. Or teams suddenly delivered enterprise pieces that nobody wanted,” he wrote.
“Covid has highlighted these strengths and weaknesses. But in truth they have been evident for some time. We need to have more ownership and accountability.
”The new structure, he said, prioritizes editing and accountability and does away with back-reading and re-editing.“Agility matters. Yes, editors may have areas of specialization and of course we should draw on that expertise, but that doesn’t mean they should edit stories in only that field.
“Editors should want to work across a variety of stories to make their own jobs more interesting and to continue to challenge themselves. The attitude has to change from ‘not my patch’ to ‘all hands on deck,’ with more editors picking up stories and getting them done,” he said.
