Feeds

CMP Said to Lay Off Nearly 200

'Not significant'

  • alert
  • submit to reddit

Build a business case: developing custom apps

Media Survey CMP Media is in the process of chopping nearly 200 jobs in a cost-cutting measure made necessary by an historic free-fall in the tech economy, insiders have told SWMS.

Although corporate staff was affected, the layoffs were weighted toward CMP's Specialized Technologies Group (STG) and Business Technology Group (BTG), one source reported. STG publishes many of CMP's vertical-market and industrial magazines; BTG publishes IT titles including InformationWeek, InternetWeek and Network Computing. All the layoffs will be announced internally over the course of the next couple of weeks, the source said.

"There's a lot of people that are freaked out," the source said. "There's a lot of good people that are just going to walk away."

Three sources confirmed that among those laid off was Patricia Schnaidt, a CMP vice-president and publisher of InternetWeek; one source said that two senior sales executives from InformationWeek, Alan Bergstein and John Murphy, also lost their jobs.

Another source said that BTG president Adam Marder will assume the duties of InternetWeek publisher.

An article published Oct. 3 by Newsday quoted CMP spokeswoman Alix Raine as saying that the cuts were "not significant." SWMS was unable to reach Raine for comment.

"You have to remember that United Business Media paid $920 million for CMP, and it's clear now that it overpaid," a source said. "That sort of valuation was based on being able to build out the web businesses, and now they are all dried up."

© Media Survey.com. All rights reserved.

United Business Media, CMP's Parent, Doesn't Hide the Bad News

Republished from the United Business Media web site.

Advertising page volumes in August showed further deterioration for both the market and CMP Media.

The business-to-business information technology market as a whole decreased by 38.6 percent in advertising page volumes in the month of August, compared to which CMP Media's High Tech publications recorded a 32.1 percent decrease.

The strengthening of CMP's market share — up again in August '01 to 27.5% from 24.9% in August '00 — is firm evidence of the strength and quality of CMP's market leading brands.

CMP Media recorded an 18.4 percent decrease in advertising page volumes in the year to August 2001, compared to a 29.5 percent decrease for the whole market including a 54.5 percent decrease for the General Business/New Economy sub-sector. CMP Media's share of the market was 28.6 percent compared with 24.7 percent for the year to August 2000.

The General Business/New Economy sub-sector declined from a 20.1 percent share of the market to a 13.0 percent share.

UBM published these otherwise damning figures because CMP gained market share during the periods.

Boost IT visibility and business value

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.