Journalists are angry about the layoffs at The Atlantic, the publication owned by the billionaire Laurene Powell Jobs by Noah_Kirsch
... [+] magazine, is worth an estimated $19.5 billion—a gain of $3.1 billion since mid-March. Despite the gain,, the publication in which she has a controlling stake, announced plans this week to lay off 20% of its staff, making Powell Jobs the latest billionaire to face questions about obligations to workers in the face of a ruinous pandemic.
In a letter to the magazine's staff, chairman David Bradley said, “We are informing 68 of our colleagues that we will not have a place for them on ’s new course. The contraction affects mainly our events, sales, and editorial staffs.” Bradley added that the company will freeze pay for its remaining staffers through the rest of the year, and that executives will take a pay cut.
The news stirred agitation on social media, particularly within media circles. “Laurene Powell Jobs, the billionaire majority owner of The Atlantic, is rich enough to be able to pay the salaries of all 68 laid off Atlantic staffers every year for the next 3,000 years,” Representatives for Powell Jobs and
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