Bloomberg LP, a leading financial data and media company, has recently announced a series of layoffs affecting various departments within the organization.
The layoffs are expected to impact approximately 3,000 employees, which is roughly 10% of the company's global workforce.
Bloomberg LP has a significant presence in major financial hubs worldwide, with offices in over 20 countries.
The company's decision to reduce its workforce is likely a response to the current economic climate and shifting market conditions.
The layoffs will affect various roles, including sales, marketing, and editorial positions, as well as support staff in areas such as finance and HR.
Bloomberg Layoffs
Bloomberg LP has undergone layoffs each of the last two years, joining other media outlets like The New York Times, Wall Street Journal, and Gannett, which owns USA TODAY and more than 100 local news properties, in downsizing.
About 30 journalists in the U.S., Europe, and Asia were laid off or left Bloomberg LP as part of the company's latest move to restructure its news operation.
The layoffs are a result of Bloomberg's need to "do more" and make structural changes, according to a memo sent to employees by Bloomberg Editor-in-Chief John Micklethwait and Bloomberg Media Chief Executive Justin Smith.
Bloomberg's restructuring plan includes merging its Markets, First Word, and Web teams under Executive Editor Madeleine Yim to "reduce duplication and create one global group."
The company is also ending its Bloomberg Politics show, With All Due Respect, after Inauguration Day and Mark Halperin and John Heilemann will continue as consultants and contributors.
Privately held Bloomberg, founded in 1981 by the one-time New York Mayor Michael Bloomberg, employs about 19,000 people globally, including 2,600 journalists and analysts.
Bloomberg began layoffs Tuesday morning, with the media company expected to cut around 80 newsroom jobs, according to sources familiar with the plans.
The staff cuts have been looming as the company restructures under top editor John Micklethwait, who was hired in late 2014 by founder Mike Bloomberg.
Bloomberg is expected to cut about 20 positions in New York, and the rest of the staff reduction will take place throughout the global news operation of around 2,400 journalists.
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The company is still hiring, and plans to add 30 reporters to a new operation providing fast commentary on breaking news.
Bloomberg is also merging its credit and finance teams and its legal and financial reporting teams as part of a department-wide reorg.
Editor Ian Fisher posted on X that he was one of the newsroom staffers who was let go on Tuesday, saying "I just heard I'm one of those they had to say goodbye to."
Bloomberg's layoffs add to a brutal year for the media industry, with other outlets like IndieWire, Forbes, Vox, The Washington Post, Scripps, and the Huffington Post laying off employees in 2025.
Impact of Layoffs
About 30 journalists in the U.S., Europe, and Asia were laid off or left Bloomberg LP as part of its latest restructuring move.
Bloomberg has undergone layoffs each of the last two years, joining other media outlets like The New York Times, Wall Street Journal, and Gannett, which owns USA TODAY and more than 100 local news properties, in downsizing.
The company's editor-in-chief, John Micklethwait, and Bloomberg Media Chief Executive Justin Smith said in a memo that they need to make structural changes to do more.
Bloomberg Businessweek editor Ellen Pollock and deputy editor Brad Wieners will depart, with Megan Murphy, the former Financial Times Washington bureau chief, taking over as the new editor of Businessweek.
The company will merge its Markets, First Word, and Web teams under Executive Editor Madeleine Yim to reduce duplication and create one global group.
About 80 newsroom jobs will be cut, with around 12 positions cut in the Washington bureau and 20 positions cut in New York.
Bloomberg is still hiring and plans to add 30 reporters to a new operation providing fast commentary on breaking news.
The layoffs have been looming as the company restructures under top editor John Micklethwait, who was hired in late 2014 by founder Mike Bloomberg.
Bloomberg employs about 19,000 people globally, including 2,600 journalists and analysts.
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Frequently Asked Questions
Does Bloomberg offer severance?
Yes, Bloomberg offers severance pay, with a minimum of one week's pay and a maximum of 26 weeks' pay, plus additional weeks based on years of service for eligible employees. Learn more about Bloomberg's severance benefits and how they're calculated.
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