Newswires See New Competition, Also Layoffs
2001 YEAR IN REVIEW
The demise of one of the major real-time financial news providers, Bridge News, left the door open for others to enter the fray. Redundancy was a recurring theme this year at the newswires with hundreds of reporters losing their jobs.
Dow Jones Newswires felt the pressure of a downturn in advertising revenues and cut around 200 jobs, or about 2 percent of its work force (IMD, Jul. 2). And many reporters lost their jobs at bankrupt Bridge’s Bridge News company.
Meanwhile, the Informa Group
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