CMP to Lay Off 200, Shutter Several Titles
CMP Technology, a business-to-business publisher and subsidiary of United Business Media, announced this week that 200 employees will be laid off by the end of the month. In addition, three of the company’s publications will be combined into a single magazine, two others will see a decrease in frequency, one magazine will be published online and another will be shuttered altogether. The major restructuring has been in the works for two years.
Information Week, Network Computing and Optimize will be combined into one magazine under the Information Week brand. CRN and VAR Business will see reductions in frequency, and Sys Admin will fold with its resources being moved to Dr. Dobb’s Journal. Finally, ICMI—previously known as Call Center Magazine—will cease to exist as a print publication and will only be offered online.
“These changes are a significant milestone in our ongoing transformation, and they position us to define the future of technology media,” said Steve Weitzner, CMP Technology’s president and CEO.
Weitzner said the moves are a response to the company’s most significant growth opportunities existing online rather than print—which accounted for just 45 percent of the company’s revenue in 2006 and is declining. “The changes … will reinforce CMP’s leadership position in technology media, providing the greatest access, the greatest influence and the most effective marketing solutions for our customers. No other media company has the dominant brands—online, face to face and in print,” Weitzner said.