REPORT: News company lays off 20 percent of staff amid advertising collapse

MAY 21, 2020

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by NYPost.com:

Atlantic Media, publisher of The Atlantic magazine, said it will cut about 20 percent of its staff in response to the advertising collapse tied to the coronavirus crisis.

Chairman David Bradley, a health care billionaire, revealed the news in a memo to staffers on Thursday.

The article goes on to state the following:

“This morning, we are informing 68 of our colleagues that we will not have a place for them on The Atlantic’s new course. The contraction affects mainly our events, sales and editorial staffs.”

Bradley said there will be “pay cuts for executives and a general pay freeze for the rest of the year” for the remaining staff.

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