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Bloomberg News is shedding around a dozen staffers in a shakeup of its newsroom.
Bloomberg Editor-in-Chief John Micklethwait announced a major restructuring of the company’s newsroom operations, resulting in staff cuts and the consolidation of several editorial groups.
Micklethwait said Bloomberg will merge its credit and finance teams, as well as its legal and financial regulation coverage groups, according to a memo obtained by The Post.
A source familiar with the situation said the cuts will impact approximately a dozen staffers in the company’s global operations.
Bloomberg News declined to comment.
News of the layoffs was first reported by the news site Semafor.
The changes are part of a broader effort to streamline editorial operations.
“We have sadly had to say goodbye to some colleagues,” Micklethwait wrote, acknowledging the layoffs.
Despite the departures, he expressed optimism about Bloomberg’s future, stating that the company will “end this year with a bigger newsroom than we started it.”
The internal reorganization reflects shifting priorities as Bloomberg adapts its newsroom structure to evolving coverage needs and broader trends in the financial media landscape. Micklethwait did not specify the number of employees affected.
Ian Fisher, an editor at the outlet, revealed on X that he was among the Bloomberg staffers laid off on Tuesday.
Responding to Semafor reporter Max Tani’s post about the cuts, Fisher wrote: “I just heard I’m one of those they had to say goodbye to. A new, later-life chapter begins.”
He added, “I welcome it, though it’s going to suck for awhile.”
The announcement comes amid a broader wave of media industry layoffs and cost-cutting measures, even as some outlets seek to invest in high-growth areas like data journalism and artificial intelligence.
Bloomberg News, which is headquartered in New York City, is an international news organization that focuses on business, financial and policy news through a wide array of platforms, including the Bloomberg Terminal, Bloomberg Television, Bloomberg Radio and Bloomberg Businessweek.
Founded in 1990 by Michael Bloomberg and Matthew Winkler, Bloomberg News was originally created to feed financial reporting to users of the Bloomberg Terminal. Since then, it has expanded into a global news organization with more than 2,700 journalists stationed worldwide.
The core of Bloomberg’s business model is the Bloomberg Terminal, also known as Bloomberg Professional, which provides real-time financial data, analytics and news to finance professionals.
Terminal subscriptions range from approximately $19,000 to $24,000 per year per user and account for the majority of the company’s revenue.
Bloomberg Media has reportedly surpassed 600,000 digital subscribers, the majority of whom are on annual plans. Around 60% of subscribers are based in the United States, with the remaining 40% split between Europe, the Middle East and the Asia-Pacific region.