Financial news and data firm, Bloomberg L. P., announced yesterday that it would eliminate 100 jobs. The company, which was founded by New York City Mayor Michael R. Bloomberg, said the layoffs would affect its radio and television departments globally, though most of the cuts occurred in New York. The reorganization is targeted at removing overlapping jobs, and more effectively competing with other financial news networks. Bloomberg claimed the downsizing was not a response to the recession, though the string of layoffs is the first in the company's history. Emphasizing this claim, the company noted it would hire 1,000 new workers over the next year.
See "Bloomberg L.P. Cuts 100 Jobs, a First for the Company", Michael Barbaro, The New York Times, February 4, 2009