Major layoffs at IDG, four months after sale to investment group
The technology publisher is reported by The Boston Globe to have been hit with a major round of layoffs. The loss of jobs comes after the iconic publisher was acquired by China Oceanwide Holdings Group and IDG Capital (an investment division of IDG China).
The company, founded by Patrick Joseph McGovern in 1964, includes such iconic brands as CIO, Computerworld, PCWorld and Macworld. But the tech publishing business has been in decline for a decade as the PC business has matured, and one by one many of its more popular magazine titles went digital-only (see TNM’s report on the recent app update for Macworld here). With the death of its founder in 2014 the company soon was seeking a buyer.
More than 90 positions have been cut according to reports, with the only statements released mentioning the impact of digital.
“Tech journalism takes another sad hit,” said David Oro, editor at IoT Central. “Their team covered a lot of important tech globally.”
“Many of my IDG colleagues have been laid off today. If you’re looking for amazing writers, producers and editors, they’re on the market,” wrote tech reporter Blair Hanley Frank via Twitter.