IDG layoffs

There was some tough news for IDG this week. Folio has the story:

Boston-based technology publisher IDG has restructured its b-to-b media division, grouping brands like CIO, Computerworld, InfoWorld, Network World, CSO, IT World and Industry Standard into one business unit.

As a result of the consolidation, 8 percent of IDG’s U.S. staff has been eliminated. An IDG spokesperson declined to say exactly how many employees were let go.

Generally speaking, the media industry has been in a state of ongoing disruption for years, thanks to Internet-driven advertising and audience trends. But the recession has been absolutely brutal on publications and the people who work for them. Many advertisers are cutting spending, and there're just not enough marketing dollars or paying subscribers to go around. Newspapers are reeling, and even specialist publications (such as Portfolio) are closing.

I believe the situation will turn around within a year, as the economy comes out of the recession and advertising dollars return. There will certainly be opportunities for publishers to rebuild and new ventures to rise out of the ashes, and for new jobs to open up. In other words, I am optimistic about the long-term prospects ... but getting over the short-term pain will be hard.