Red Herring Communications Inc. is closing its conference division
and laying off 27% of the company's employees, a spokeswoman said.
The San Francisco company, owner of the Red Herring technology-business
magazine, is laying off 38 people of its 140-person staff. The latest round
of layoffs at Red Herring mostly reflects the closing of the conference
division but affects online, business and editorial operations, as well.
The conference division may be revived at some point after the first half
of next year, the spokeswoman said.
Separately, the company said it received $10 million in funding from
Broadview Capital Partners, its largest shareholder.
Red Herring, a 325,000-strong monthly has been hit hard by the rapid
advertising slowdown as have other technology-oriented publications.
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Copyright 2001, Dow Jones & Co.
Red Herring Communications
Closes Its Conference Division
Wall Street Journal - November 16, 2001
By Matthew Rose
Staff Reporter, Wall Street Journal