Forbes to Pink Slip Employees

By Alicia Cruz
Editor-in-chief
Theblackurbantimes

Rumors about the reports that Forbes would join the scores of companies laying off staff members appears to be true.
A memo to Forbes staff members was made available to media outlets and stated:

From: "Forbes, Steve"
Date: Mon, 26 Oct 2009 15:31:09
Subject: All Hands from Steve Forbes

"We -- and the entire media world -- have been hit hard by both the severe recession and the seismic shifts wrought by the Web. Given these dramatic events, further layoffs, unfortunately, are necessary across the entire organization. We are grateful to our colleagues and friends for the enormous contributions they have made to Forbes over the years. We thank them for all they have done and are deeply saddened by this course of events.

While these are acutely challenging times, Forbes Media is making the strategic and organizational changes that will enable us not only to weather these storms, but ultimately to emerge as a stronger company, well-positioned to expand and prosper in the years ahead."

The memo went on to say, " On the editorial side, we will maintain the essential strengths of Forbes while also deepening our relationships with our community. On the advertising side, we are making shifts to fully meet marketers' evolving needs.

These current difficulties are a more intense version of what we underwent eight years ago, particularly after 9/11. Then, print advertising plummeted, and our Web efforts, like those of other publishers, were in the red. "
At this time there has been no word on when exactly Forbes plans to begin handing out pink slips.