Bloomberg News, the global media organization headed by former New York mayor Michael Bloomberg, will lay off about 80 journalists this week in a rare retrenchment for the high-flying company.
New York-based Bloomberg employs about 2, 400 journalists in 150 bureaus worldwide, and it generally has been in a growth mode in recent years as other news organizations have pared back.
But the privately held company will announce this week that it is cutting about 3 percent of its editorial staff. The layoffs will be spread throughout the company and across bureaus, people familiar with the plans said. News of the layoffs was first reported by the New York Post.