Business & Tech

Tech publisher IDG lays off more than 90 after sale

International Data Group has laid off more than 90 people in its flagship tech-industry publishing division, less than two months after completing its sale to a Chinese conglomerate and investment firm, people with knowledge of the job cuts said Wednesday.

IDG confirmed that it had cut US staff, but declined to specify the number. The people with knowledge of the layoff figure spoke to the Globe on condition of anonymity to discuss confidential employment information. They also said the layoffs affected employees across editorial and business functions.

Advertisement

Current and former journalists at IDG publications, including Macworld, Computerworld, and Network World, also disclosed the job cuts in social media postings as the news spread Tuesday and Wednesday.

“If you’re looking for amazing writers, producers and editors, they’re on the market,” wrote Blair Hanley Frank, a correspondent for the IDG News Service.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

In a statement, IDG said the layoffs were part of a two-year effort aimed at turning a sprawling company with worldwide operations “into a globally streamlined company that provides the greatest possible value.” IDG also has an influential tech-industry research arm and an investment division.

“This was a difficult decision for the company, but we are grateful to those colleagues whose roles have been affected for their many contributions to IDG,” said Josh London, the company’s chief marketing officer.

IDG has undergone previous rounds of layoffs as it tries to overhaul its traditional magazine publishing business for the digital age. Between 2013 and 2014, IDG stopped printing PCWorld, Computerworld, and Macworld, converting them into Web-only publications.

Advertisement

In January, IDG announced that it was selling the company to a partnership between China Oceanwide Holdings Group and IDG Capital, a China-based investment firm started by IDG founder Pat McGovern in the early 1990s. Terms of the all-cash deal were not disclosed, but The Wall Street Journal reported that the price was less than $1 billion.

At the time of the sale announcement, IDG executives said they planned to expand the business while keeping its Boston headquarters and management team.

China Oceanwide announced in late March that it had closed the deal following US regulatory approval, saying in a press release that it “expected to support IDG as its new shareholder with deep financial and commercial resources.”

Curt Woodward can be reached at curt.woodward@globe.com. Follow him on Twitter @curtwoodward.
Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com