Two weeks ago, Nick Denton hosted a party on the top of his newish Gawker offices, where he told us he was "disaster planning." Here's what that looks like: He's laying off 19 people at his network of 12 sites, but is doubling down at some of his stronger titles, where he will bring on 10 people.
Among those cut: Three of Valleywag's 5 staffers. Among those hired: Longtime media reporter Gabriel Snyder, who wil replace Denton as Gawker.com's managing editor.
Here's the memo:
I have some bad news. Here's the heart of it: we are cutting 19 of our 133 editorial positions and suspending bonus payments at the start of next year. With the savings, we are increasing base pay and hiring 10 new people on the most commercially successful Gawker sites. But I know that's scant consolation for the colleagues we're losing and for those of you who have been enjoying the bonus windfalls from breakout stories.