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Mashable Fires Staff After Million-Dollar Funding Deal

Mashable Fires Staff After Million-Dollar Funding Deal
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Digital publication Mashable has laid off approximately 30 members of staff a week after receiving $15million (£10.7million) in funding, Politico reports.

Jim Roberts (Chief Content Officer) and Seth Rogin (Chief Revenue Officer) were also replaced by Greg Gittrich and Ed Wise respectively.

Mashable is now moving away from hard news coverage and will now focus on producing more video content about “digital culture”.

Writing in a LinkedIn post, Pete Cashmore, Founder and CEO at Mashable, said: “Last week we announced a funding round to put Mashable on more platforms, including television. This new focus means we have to change the way our teams are organised, and involved some very tough
 decisions. While such decisions are part of running a business, they are never easy. Change can often be hard.

“Today we must part ways with some of our colleagues in order to focus our efforts. Everyone affected by these changes has already been notified.

“We are certain this is the right direction for Mashable. But that doesn’t make it any less difficult to say goodbye to our friends and teammates. Mashable is a very close-knit family and I value the
 contributions of each and every member. Every one of these people has made an indelible impact on our company and our lives. They have earned our respect and our friendship, and we are very fortunate to have worked alongside them. We will miss them and we will offer services to help them transition into new roles.”

The post has received a mixed response on the social media platform. Rowena Track, Global VP – Digital, Channel & Partner Marketing at Cigna Corporation, commented: “I like how you communicated it preserving people’s dignity and focusing on their tremendous contributions to the company. It makes a big difference how a leader handles these situations.”

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SOURCE: HR Grapevine


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