Economic crisis hits home…

I’ve just learned I have a new boss and that lots of moves are being made by my parent company, Mansueto Ventures, which publishes Fast Company and Inc Magazines and also does a series of online sites, including Fast Company TV, which I head along with Rocky Barbanica. I also just learned that 20 of my coworkers have been laid off as the economic troubles start to move into the media world. Most of these cuts are in online and marketing.

I’ve been talking with people about these changes on my Twitter account and on my FriendFeed account, more to come as I learn more.

My new boss? Bob Safian who is the top editor at Fast Company magazine. I’ve worked with him and his team on my column so this is actually a good news because it brings our videos closer to the magazine.

Ed Sussman, my previous boss, is leaving to join a startup as CEO. I’ll let you know more as his startup comes out of stealth mode.

Comments

  1. Perhaps as opposed to laying qualified people off – a new business model could be created that would allow for freelance options (since they wont be working and can use the money).

    We should seize this period as a time to innovate, not engage in the same traditional work model.

    Buy laying off good people, you become less competitive.

    Now would be the time to break ahead of the others by elevating your product of service to the max. :-D

  2. Perhaps as opposed to laying qualified people off – a new business model could be created that would allow for freelance options (since they wont be working and can use the money).

    We should seize this period as a time to innovate, not engage in the same traditional work model.

    Buy laying off good people, you become less competitive.

    Now would be the time to break ahead of the others by elevating your product of service to the max. :-D

  3. Many companies utilize laid off employees as free-lancers after the fact. In the end, it is cheaper labor since the benefit costs are not carried any longer, and you can end the 1099 relationship very easily.

    It is not necessarily a better business model, but it is a money saver. I have laid off hundreds of people in my HR career. It always sucks. The good news, most people are very resilient and wind up better off in the long run.

    It is more difficult to believe that story in today’s economic morasse.

    Robert, I wish your colleagues the best of luck!

    – Michael VanDervort

    http://bestpracticeexchange.blogspot.com
    http://humanracehorses.blogspot.com

  4. Many companies utilize laid off employees as free-lancers after the fact. In the end, it is cheaper labor since the benefit costs are not carried any longer, and you can end the 1099 relationship very easily.

    It is not necessarily a better business model, but it is a money saver. I have laid off hundreds of people in my HR career. It always sucks. The good news, most people are very resilient and wind up better off in the long run.

    It is more difficult to believe that story in today’s economic morasse.

    Robert, I wish your colleagues the best of luck!

    – Michael VanDervort

    http://bestpracticeexchange.blogspot.com
    http://humanracehorses.blogspot.com

  5. Sounds like life is about to change quite a bit for you, maybe not as much as for those who had to leave though!

    Good luck with this change and I hope it all works out for the best!

  6. Sounds like life is about to change quite a bit for you, maybe not as much as for those who had to leave though!

    Good luck with this change and I hope it all works out for the best!

  7. Robert – I picked up the print copy of Fast Company (as you know from Friendfeed) last week for the first time. This is bad news. It’s a unique product with potential and the ad ratio (at this time) looked good. Best of luck to everyone there.

  8. Robert – I picked up the print copy of Fast Company (as you know from Friendfeed) last week for the first time. This is bad news. It’s a unique product with potential and the ad ratio (at this time) looked good. Best of luck to everyone there.

  9. Scoble curse in action…reverse Midas touch — Vic, Furrier and now Sussman…touch and turn to dust.

  10. Scoble curse in action…reverse Midas touch — Vic, Furrier and now Sussman…touch and turn to dust.

  11. Hi Robert,

    Good luck with the changes at the parent company. I hope it works out for you guys – Fast Company TV is excellent and the marketplace ALWAYS rewards value.

    I am also pleased to let you know that thanks to your tweets to me yesterday, I got my head around FirendFeed and have been able to follow your comments!

    Thanks Robert and all the best to your colleagues too!

    Jim Connolly

  12. Hi Robert,

    Good luck with the changes at the parent company. I hope it works out for you guys – Fast Company TV is excellent and the marketplace ALWAYS rewards value.

    I am also pleased to let you know that thanks to your tweets to me yesterday, I got my head around FirendFeed and have been able to follow your comments!

    Thanks Robert and all the best to your colleagues too!

    Jim Connolly