The Awl http://www.theawl.com/ Be Less Stupid Thu, 07 Apr 2011 12:30:58 +0000 en hourly 1 http://wordpress.org/?v=3.0.2 I'm Permalance No More! "Thank You Very Much for Your Contributions to AOL" http://www.theawl.com/2011/04/im-permalance-no-more-%e2%80%9cthank-you-very-much-for-your-contributions-to-aol%e2%80%9d http://www.theawl.com/2011/04/im-permalance-no-more-%e2%80%9cthank-you-very-much-for-your-contributions-to-aol%e2%80%9d#comments Thu, 07 Apr 2011 12:30:58 +0000 Carter Maness http://www.theawl.com/2011/04/im-permalance-no-more-%e2%80%9cthank-you-very-much-for-your-contributions-to-aol%e2%80%9d I left the corporate world in 2008 to write about music and entertainment because I wanted to work from bed, only leaving to maybe smoke joints with Kid Cudi while asking him pretentious questions about string arrangements. I don’t ask for much! During this time, my main gig has been permalancing for AOL Music. There, I aggregated content about hip-hop and indie rock, with a stray shot at actual journalism—attempts which were usually trumped by stories about Rihanna deboarding a plane or Jay-Z making funny faces at Madison Square Garden.

And then, in early February, AOL purchased the Huffington Post and handed over its editorial keys to Arianna Huffington. We knew there would be layoffs when the acquisition was announced. How could there not be? On topics like business and financial news, Huffington's crew did the same aggregation with way fewer people for way less money. I suspected that AOL would make a few big name hires for image purposes while firing most of its full-time, fairly compensated editorial workforce.

Late on March 9, we began hearing about the first of the bloodbaths to come. It immediately took me back to nights in college and its periods of insane insomnia: Like those at Viacom before me, it was like following my own job security became my new beat. I couldn't stop refreshing Google News and Twitter. Online media, despite its penchant for get-there-first wrongness or pageview-hungry reader-baiting, was still the only source for news: AOL was silent. Emails to my longtime editor went unanswered.

In the end, 20 percent of AOL's in-house workforce was canned and nearly every editorial staffer, including my own editor with whom I’d worked every day for two years, was shown the door. The people I knew inside AOL told me that workers were fired in mass conference room terminations, with no reason given.

"My no. 1 priority is keeping all of our writers informed," read a manager’s email four days after the layoffs. Other than telling us about a temporary freelance editor, I haven’t heard from her since.

For longtime employees, the transition was puzzling. “What’s so insulting was that it felt like there was no logic to the layoffs,” said a now-former AOL employee, who was let go in the first round of layoffs. “I was ranked in the top 20 percent of the company, awarded a merit-based salary increase, received a large bonus and was then let go with no explanation.”

Freelancers waited, uncertain, for two weeks. Emails were traded, each with links to incendiary stories about how we had no future. Hearing nothing from AOL, it became harder to sleep and focus. The joy of freelancing is that, while we’re essentially disposable, we at least don’t have to be overly concerned with office politics. But in reality, I had grown accustomed to what was, yes, essentially a full-time job with no office. I enjoyed the perks of someone without an office job—nooners and a very lax dress code—while becoming incredibly dependent on the trappings of someone who did.

There's a real difference between getting outright fired and being left in purgatory. Being unemployed lights an immediate fire. You have to apply for jobs, hustle, tap all connections, sweat it out. An indefinite request to "just standby"? Well, what’s to do?

On March 22, AOL cut 30 of 70 online properties, folding many into existing Huffington Post sections, ending more altogether. AOL Music remained, was incorporated into the HuffPo website and even the higher-ups exuded optimism that all would be OK for now.

Then we got an email that night—sent at 2:30 a.m.— requesting our presence on a national conference call the next day at noon. My peers seemed encouraged by this. Maybe we had won this disgusting game of corporate King of the Hill.

"We want to make clear: there is no immediate change for you," they wrote, in bold.

Maybe the definition of “immediate” is slippery? The content of that conference call could have been used as a model for what to do when a corporation really has nothing to say, plans more mass terminations, but wants to keep people contributing to its sites so that they don't cease publishing before a series of cheaper cogs are put in place.

Because, yes: freelancer layoffs began on Monday, starting with the entire business and financial staffs. Then they came for the movie writers over at Cinematical, who received an insulting email termination with the offer that they could still write stories for free. Then, presumably because she pushed the Huffington model just a little too soon, the writer of that email was fired by Huffington’s new axe-man. Huffington’s quite sensitive to packaging and timing, so even those who embrace her scheme aren’t safe unless they do it right.

And then, yesterday, pretty much everyone left was let go in the most insulting way imaginable: A form email.

Hi there –

Thank you very much for your contributions to AOL. As we have discussed on calls and in emails, going forward our editorial direction is to build a great team of full-time editors, writers, and reporters. To that end, we are reducing the scope of AOL's freelancer program.

Per the terms of your agreement with AOL, this note confirms the end of your engagement for content services effective Wednesday, April 6, 2011. Rest assured, you will be paid for your content and services through this date, disbursed to you per AOL’s regular payment schedule in late May.

We greatly appreciate your contributions and are available to answer any questions you may have. Please email freelancers@teamaol.com with any inquiries.

Hi there! Over my two-year tenure at AOL, I published over 350,000 words in approximately 900 posts—at least three novels worth of words. This was met with a blanket termination, with zero notice, in the form of an email that didn't even include my actual name. Freelancers know they are just a number, but AOL really went out of their way to demonstrate that. Rest assured!

The toughest part is that it's now near impossible for us to gain satisfaction from the merger's probable failure. Tim Armstrong is already rich. Arianna Huffington is already rich. Those that treated the Mighty AOL Freelance Army like so much trash to be taken out have already gotten paid on our backs. At least we were “greatly appreciated” for helping them out.



Carter Maness is the associate music editor at NYPress and currently working on a chapbook based on Cam'ron lyrics. He works and lives in Brooklyn.

Photo by George Kelly, from Flickr.

---

See more posts by Carter Maness

21 comments

]]>
I left the corporate world in 2008 to write about music and entertainment because I wanted to work from bed, only leaving to maybe smoke joints with Kid Cudi while asking him pretentious questions about string arrangements. I don’t ask for much! During this time, my main gig has been permalancing for AOL Music. There, I aggregated content about hip-hop and indie rock, with a stray shot at actual journalism—attempts which were usually trumped by stories about Rihanna deboarding a plane or Jay-Z making funny faces at Madison Square Garden.

And then, in early February, AOL purchased the Huffington Post and handed over its editorial keys to Arianna Huffington. We knew there would be layoffs when the acquisition was announced. How could there not be? On topics like business and financial news, Huffington's crew did the same aggregation with way fewer people for way less money. I suspected that AOL would make a few big name hires for image purposes while firing most of its full-time, fairly compensated editorial workforce.

Late on March 9, we began hearing about the first of the bloodbaths to come. It immediately took me back to nights in college and its periods of insane insomnia: Like those at Viacom before me, it was like following my own job security became my new beat. I couldn't stop refreshing Google News and Twitter. Online media, despite its penchant for get-there-first wrongness or pageview-hungry reader-baiting, was still the only source for news: AOL was silent. Emails to my longtime editor went unanswered.

In the end, 20 percent of AOL's in-house workforce was canned and nearly every editorial staffer, including my own editor with whom I’d worked every day for two years, was shown the door. The people I knew inside AOL told me that workers were fired in mass conference room terminations, with no reason given.

"My no. 1 priority is keeping all of our writers informed," read a manager’s email four days after the layoffs. Other than telling us about a temporary freelance editor, I haven’t heard from her since.

For longtime employees, the transition was puzzling. “What’s so insulting was that it felt like there was no logic to the layoffs,” said a now-former AOL employee, who was let go in the first round of layoffs. “I was ranked in the top 20 percent of the company, awarded a merit-based salary increase, received a large bonus and was then let go with no explanation.”

Freelancers waited, uncertain, for two weeks. Emails were traded, each with links to incendiary stories about how we had no future. Hearing nothing from AOL, it became harder to sleep and focus. The joy of freelancing is that, while we’re essentially disposable, we at least don’t have to be overly concerned with office politics. But in reality, I had grown accustomed to what was, yes, essentially a full-time job with no office. I enjoyed the perks of someone without an office job—nooners and a very lax dress code—while becoming incredibly dependent on the trappings of someone who did.

There's a real difference between getting outright fired and being left in purgatory. Being unemployed lights an immediate fire. You have to apply for jobs, hustle, tap all connections, sweat it out. An indefinite request to "just standby"? Well, what’s to do?

On March 22, AOL cut 30 of 70 online properties, folding many into existing Huffington Post sections, ending more altogether. AOL Music remained, was incorporated into the HuffPo website and even the higher-ups exuded optimism that all would be OK for now.

Then we got an email that night—sent at 2:30 a.m.— requesting our presence on a national conference call the next day at noon. My peers seemed encouraged by this. Maybe we had won this disgusting game of corporate King of the Hill.

"We want to make clear: there is no immediate change for you," they wrote, in bold.

Maybe the definition of “immediate” is slippery? The content of that conference call could have been used as a model for what to do when a corporation really has nothing to say, plans more mass terminations, but wants to keep people contributing to its sites so that they don't cease publishing before a series of cheaper cogs are put in place.

Because, yes: freelancer layoffs began on Monday, starting with the entire business and financial staffs. Then they came for the movie writers over at Cinematical, who received an insulting email termination with the offer that they could still write stories for free. Then, presumably because she pushed the Huffington model just a little too soon, the writer of that email was fired by Huffington’s new axe-man. Huffington’s quite sensitive to packaging and timing, so even those who embrace her scheme aren’t safe unless they do it right.

And then, yesterday, pretty much everyone left was let go in the most insulting way imaginable: A form email.

Hi there –

Thank you very much for your contributions to AOL. As we have discussed on calls and in emails, going forward our editorial direction is to build a great team of full-time editors, writers, and reporters. To that end, we are reducing the scope of AOL's freelancer program.

Per the terms of your agreement with AOL, this note confirms the end of your engagement for content services effective Wednesday, April 6, 2011. Rest assured, you will be paid for your content and services through this date, disbursed to you per AOL’s regular payment schedule in late May.

We greatly appreciate your contributions and are available to answer any questions you may have. Please email freelancers@teamaol.com with any inquiries.

Hi there! Over my two-year tenure at AOL, I published over 350,000 words in approximately 900 posts—at least three novels worth of words. This was met with a blanket termination, with zero notice, in the form of an email that didn't even include my actual name. Freelancers know they are just a number, but AOL really went out of their way to demonstrate that. Rest assured!

The toughest part is that it's now near impossible for us to gain satisfaction from the merger's probable failure. Tim Armstrong is already rich. Arianna Huffington is already rich. Those that treated the Mighty AOL Freelance Army like so much trash to be taken out have already gotten paid on our backs. At least we were “greatly appreciated” for helping them out.



Carter Maness is the associate music editor at NYPress and currently working on a chapbook based on Cam'ron lyrics. He works and lives in Brooklyn.

Photo by George Kelly, from Flickr.

---

See more posts by Carter Maness

21 comments

]]>
http://www.theawl.com/2011/04/im-permalance-no-more-%e2%80%9cthank-you-very-much-for-your-contributions-to-aol%e2%80%9d/feed 21
"Sandi from HR Will be Calling You After We Hang Up" http://www.theawl.com/2011/02/sandi-from-hr-will-be-calling-you-after-we-hang-up http://www.theawl.com/2011/02/sandi-from-hr-will-be-calling-you-after-we-hang-up#comments Wed, 16 Feb 2011 12:40:42 +0000 Choire Sicha http://www.theawl.com/2011/02/sandi-from-hr-will-be-calling-you-after-we-hang-up "A bolt of panic shot through my body as Tom continued shitting HR-speak from his mouth, repeating phrases like 'skill set' and 'moving forward' until I eventually tuned him out."
The Way We Get Laid Off Now.

---

See more posts by Choire Sicha

13 comments

]]>
"A bolt of panic shot through my body as Tom continued shitting HR-speak from his mouth, repeating phrases like 'skill set' and 'moving forward' until I eventually tuned him out."
The Way We Get Laid Off Now.

---

See more posts by Choire Sicha

13 comments

]]>
http://www.theawl.com/2011/02/sandi-from-hr-will-be-calling-you-after-we-hang-up/feed 13
How Many Nice People Does It Take To Edit 24 Pages A Week? http://www.theawl.com/2009/10/how-many-nice-people-does-it-take-to-edit-24-pages-a-week http://www.theawl.com/2009/10/how-many-nice-people-does-it-take-to-edit-24-pages-a-week#comments Wed, 28 Oct 2009 09:11:58 +0000 Choire Sicha http://www.theawl.com/2009/10/how-many-nice-people-does-it-take-to-edit-24-pages-a-week THIS IS WHAT IT LOOKS LIKE IN MY MINDI couldn't sleep all night! I was tossing and turning, my mind afire, as I wondered: how are there 14 editors at the New York Times Book Review? This is not simple spite! I like the Book Review. Or at least I like it abstractly, not in the "Yay it's Sunday morning, here's the Book Review" kind of way. And yes, there is a hell of a lot of reading involved in it. But I'm pretty sure me and Maud and Lizzie and Mark Greif and a couple interns could get it done by Tuesday and then sort of just chillax on Wednesdays before starting all over again.

---

See more posts by Choire Sicha

10 comments

]]>
THIS IS WHAT IT LOOKS LIKE IN MY MINDI couldn't sleep all night! I was tossing and turning, my mind afire, as I wondered: how are there 14 editors at the New York Times Book Review? This is not simple spite! I like the Book Review. Or at least I like it abstractly, not in the "Yay it's Sunday morning, here's the Book Review" kind of way. And yes, there is a hell of a lot of reading involved in it. But I'm pretty sure me and Maud and Lizzie and Mark Greif and a couple interns could get it done by Tuesday and then sort of just chillax on Wednesdays before starting all over again.

---

See more posts by Choire Sicha

10 comments

]]>
http://www.theawl.com/2009/10/how-many-nice-people-does-it-take-to-edit-24-pages-a-week/feed 10
In Praise of Being Made Redundant http://www.theawl.com/2009/10/rich-people-things-with-chris-lehmann-in-praise-of-being-made-redundant http://www.theawl.com/2009/10/rich-people-things-with-chris-lehmann-in-praise-of-being-made-redundant#comments Mon, 26 Oct 2009 11:20:19 +0000 Chris Lehmann http://www.theawl.com/2009/10/rich-people-things-with-chris-lehmann-in-praise-of-being-made-redundant IF YOU'RE LUCKY!With much of the opinion-making world fretting that American executives may no longer be compensated at their customary levels of obscenity, and fearing an exodus of the kind of top-notch managerial talent that brought the US economy to the brink last year, it may seem perverse, or at the very least unsporting, to dwell on the lot of the garden-variety shitcanned American worker. And it's undeniably true that joblessness is a subject that much preoccupies me these days. Still, as the official rate of unemployment continues inching toward 10 percent-and the real jobless rate having long ago left that benchmark in the dust-even investor-smitten outlets such as Bloomberg News are forced to concede that unemployment is now a chronic drag on an economic recovery that's been largely predicated on bank bailouts.

But the news on the jobless front isn't uniformly grim, reports Business Week's Michelle Conlin. A recent study of the impact of mass layoffs at the home plants of the airplane manufacturing giant Boeing turned up some unexpected findings.

The 3,500 laid off Boeing veterans who participated in the longitudinal study by a team of researchers at the University of Puget Sound were much happier than the employees still marooned in the Boeing workforce, which shed fully a third of company jobs-going from 234,850 to 157,441 between 1997 and 2006. One industrial psychologist who co-authored the forthcoming 2010 book (called, of course, Turbulence) summarizing the results told Conlin that "over and over... average depression scores were nearly twice as great for those who stayed with Boeing vs. those who left. The laid-off workers were less likely to binge drink, often slept better, and had fewer chronic health problems."

One obvious reason for the disparity, Conlin notes, is that surviving an early bout of layoffs is no guarantee of anything like longer-term job security. So in its gruesome job-devouring guise, the Boeing workplace soon came to resemble nothing so much as a West Coast touring production of Glengarry Glen Ross: "With each round of layoffs, the survivors hustled to reinvent themselves. They re-proved, re-auditioned, and re-positioned, only to watch another manager-pushing the fad du jour-parade through the door. Employees who had once seen themselves in every plane passing overhead were now trading in gallows humor. As in, 'Dead worker walking.'"

Nor did the managers wielding the axe immediately repair to a nearby meadow to fling their enhanced stock compensation packages joyfully in the air; they succumbed to what industrial researchers-themselves no mean hands at gallows humor-call "executioner's lament." Managers grew "emotionally numb and disengaged." Even more so than usual, that is.

By contrast, many of the laid-off Boeing informants in the study moved on to new jobs, "even if they didn't always pay as well"-a fairly common condition, alas, when mass layoffs flood the job market with workers ill-suited to fill vacancies requiring specific skill sets. Still, even with reduced paydays, the cashiered Boeing workers "felt as though they had escaped a bad marriage," the research team discovered, much to its surprise. As one such gay divorcee cogently put it, "You feel better when someone takes their foot off your neck."

Now, it's true that the airplane-making business brings up the rear in today's way-new digital-cum-service economy, so the Boeing casualties may have felt some enhanced relief simply by virtue of escaping the nation's incredible shrinking manufacturing sector. And the plight of today's reserve post-industrial army of workers encompasses a far stranger spectrum of possible career outcomes, as Jennifer 8 Lee reported inadvertently in a New York Times dispatch on opposite-side parking in Manhattan, which featured the exploits of Tom Karlo, proprietor of the blog IsAlternateSideParkingInEffect.com, "a former Lehman Brothers investment banker who is now a manager for the Internet Movie Database." Nevertheless, even in the best of times, the contemporary workplace is a dark satanic mill producing a rich array of psychic maladies, from depression to suicide.

Small wonder that when confronted with the prospect of job cutbacks-which most workers delusionally believe will happen only to others, not themselves-employees are most reluctant to give up salary or vacation time, the two meager outside compensations for the daily Goyaesque torment known as job-holding. After all, vacations physically eject you from the workplace, while higher salaries leave you with a more comfortable margin of disposable income to spend on the controlled substance most likely to get you through your workday. Together, they form the office drone's optimal regimen of spiritual hygiene-short of getting laid off, that is.

---

See more posts by Chris Lehmann

14 comments

]]>
IF YOU'RE LUCKY!With much of the opinion-making world fretting that American executives may no longer be compensated at their customary levels of obscenity, and fearing an exodus of the kind of top-notch managerial talent that brought the US economy to the brink last year, it may seem perverse, or at the very least unsporting, to dwell on the lot of the garden-variety shitcanned American worker. And it's undeniably true that joblessness is a subject that much preoccupies me these days. Still, as the official rate of unemployment continues inching toward 10 percent-and the real jobless rate having long ago left that benchmark in the dust-even investor-smitten outlets such as Bloomberg News are forced to concede that unemployment is now a chronic drag on an economic recovery that's been largely predicated on bank bailouts.

But the news on the jobless front isn't uniformly grim, reports Business Week's Michelle Conlin. A recent study of the impact of mass layoffs at the home plants of the airplane manufacturing giant Boeing turned up some unexpected findings.

The 3,500 laid off Boeing veterans who participated in the longitudinal study by a team of researchers at the University of Puget Sound were much happier than the employees still marooned in the Boeing workforce, which shed fully a third of company jobs-going from 234,850 to 157,441 between 1997 and 2006. One industrial psychologist who co-authored the forthcoming 2010 book (called, of course, Turbulence) summarizing the results told Conlin that "over and over... average depression scores were nearly twice as great for those who stayed with Boeing vs. those who left. The laid-off workers were less likely to binge drink, often slept better, and had fewer chronic health problems."

One obvious reason for the disparity, Conlin notes, is that surviving an early bout of layoffs is no guarantee of anything like longer-term job security. So in its gruesome job-devouring guise, the Boeing workplace soon came to resemble nothing so much as a West Coast touring production of Glengarry Glen Ross: "With each round of layoffs, the survivors hustled to reinvent themselves. They re-proved, re-auditioned, and re-positioned, only to watch another manager-pushing the fad du jour-parade through the door. Employees who had once seen themselves in every plane passing overhead were now trading in gallows humor. As in, 'Dead worker walking.'"

Nor did the managers wielding the axe immediately repair to a nearby meadow to fling their enhanced stock compensation packages joyfully in the air; they succumbed to what industrial researchers-themselves no mean hands at gallows humor-call "executioner's lament." Managers grew "emotionally numb and disengaged." Even more so than usual, that is.

By contrast, many of the laid-off Boeing informants in the study moved on to new jobs, "even if they didn't always pay as well"-a fairly common condition, alas, when mass layoffs flood the job market with workers ill-suited to fill vacancies requiring specific skill sets. Still, even with reduced paydays, the cashiered Boeing workers "felt as though they had escaped a bad marriage," the research team discovered, much to its surprise. As one such gay divorcee cogently put it, "You feel better when someone takes their foot off your neck."

Now, it's true that the airplane-making business brings up the rear in today's way-new digital-cum-service economy, so the Boeing casualties may have felt some enhanced relief simply by virtue of escaping the nation's incredible shrinking manufacturing sector. And the plight of today's reserve post-industrial army of workers encompasses a far stranger spectrum of possible career outcomes, as Jennifer 8 Lee reported inadvertently in a New York Times dispatch on opposite-side parking in Manhattan, which featured the exploits of Tom Karlo, proprietor of the blog IsAlternateSideParkingInEffect.com, "a former Lehman Brothers investment banker who is now a manager for the Internet Movie Database." Nevertheless, even in the best of times, the contemporary workplace is a dark satanic mill producing a rich array of psychic maladies, from depression to suicide.

Small wonder that when confronted with the prospect of job cutbacks-which most workers delusionally believe will happen only to others, not themselves-employees are most reluctant to give up salary or vacation time, the two meager outside compensations for the daily Goyaesque torment known as job-holding. After all, vacations physically eject you from the workplace, while higher salaries leave you with a more comfortable margin of disposable income to spend on the controlled substance most likely to get you through your workday. Together, they form the office drone's optimal regimen of spiritual hygiene-short of getting laid off, that is.

---

See more posts by Chris Lehmann

14 comments

]]>
http://www.theawl.com/2009/10/rich-people-things-with-chris-lehmann-in-praise-of-being-made-redundant/feed 14
'Vanity Fair' Layoffs: More Than 80% Female http://www.theawl.com/2009/10/vanity-fair-layoffs-more-than-80-female http://www.theawl.com/2009/10/vanity-fair-layoffs-more-than-80-female#comments Fri, 23 Oct 2009 14:22:08 +0000 Choire Sicha http://www.theawl.com/2009/10/vanity-fair-layoffs-more-than-80-female Layoffs at Vanity Fair have been ongoing since yesterday-they're not centralized, which means that editor Graydon Carter need not be present. And that's handy, as the rumor that Carter was on a private plane is indeed said by staffers to be true. Well, while he was out, a trend emerged, according to a staffer, as department heads made their layoff choices. Of the 13 or so let go so far-with possibly a few more yet to come-only two were men. And of the 11 women let go, it's estimated that just three five of them were under 35. The overall office population, with some variation by department (photo and fashion are mostly women; editors are largely men), has a fairly even gender distribution. Although the one senior editor that was laid off was a woman.

---

See more posts by Choire Sicha

10 comments

]]>
Layoffs at Vanity Fair have been ongoing since yesterday-they're not centralized, which means that editor Graydon Carter need not be present. And that's handy, as the rumor that Carter was on a private plane is indeed said by staffers to be true. Well, while he was out, a trend emerged, according to a staffer, as department heads made their layoff choices. Of the 13 or so let go so far-with possibly a few more yet to come-only two were men. And of the 11 women let go, it's estimated that just three five of them were under 35. The overall office population, with some variation by department (photo and fashion are mostly women; editors are largely men), has a fairly even gender distribution. Although the one senior editor that was laid off was a woman.

---

See more posts by Choire Sicha

10 comments

]]>
http://www.theawl.com/2009/10/vanity-fair-layoffs-more-than-80-female/feed 10
Gawker Media is the Goldman Sachs of the Internet http://www.theawl.com/2009/07/gawker-media-is-the-goldman-sachs-of-the-internet http://www.theawl.com/2009/07/gawker-media-is-the-goldman-sachs-of-the-internet#comments Mon, 27 Jul 2009 13:35:37 +0000 Choire Sicha http://www.theawl.com/2009/07/gawker-media-is-the-goldman-sachs-of-the-internet FIRINGWhat we've seen in companies that have been successful through the last year-so we're excluding, say, the car companies and most of the media companies oh and real estate and physical goods, etc.-is they've both shed staff and, both independently and relatedly, increased their revenues. Interestingly, this graph from Gawker honcho Nick Denton is pretty darn similar to what it would look like if you graphed Goldman Sachs' expenses and revenues, with even some similar trending during the same quarters! In both these cases, on the micro-scale of Gawker Media, as a small company, and the macro-scale of a big one like Goldman Sachs, there's no decline in revenue from their creating more unemployed non-spenders, which both did in fairly severe layoffs. Gawker Media revenue doesn't depend on its sites' readers being employed-unemployed people read the Internet just fine, even if it's in their parents basement. And GS certainly doesn't depend on the little people for its income. So both can indulge in fairly hard-core cost-cutting and then find themselves rolling in cash without any negative expense besides the most nebulous: ill will.

---

See more posts by Choire Sicha

13 comments

]]>
FIRINGWhat we've seen in companies that have been successful through the last year-so we're excluding, say, the car companies and most of the media companies oh and real estate and physical goods, etc.-is they've both shed staff and, both independently and relatedly, increased their revenues. Interestingly, this graph from Gawker honcho Nick Denton is pretty darn similar to what it would look like if you graphed Goldman Sachs' expenses and revenues, with even some similar trending during the same quarters! In both these cases, on the micro-scale of Gawker Media, as a small company, and the macro-scale of a big one like Goldman Sachs, there's no decline in revenue from their creating more unemployed non-spenders, which both did in fairly severe layoffs. Gawker Media revenue doesn't depend on its sites' readers being employed-unemployed people read the Internet just fine, even if it's in their parents basement. And GS certainly doesn't depend on the little people for its income. So both can indulge in fairly hard-core cost-cutting and then find themselves rolling in cash without any negative expense besides the most nebulous: ill will.

---

See more posts by Choire Sicha

13 comments

]]>
http://www.theawl.com/2009/07/gawker-media-is-the-goldman-sachs-of-the-internet/feed 13
An Entire Crop Of New Lawyers Gets Laid Off (And Well Severanced) http://www.theawl.com/2009/05/an-entire-crop-of-new-lawyers-gets-laid-off-and-well-severanced http://www.theawl.com/2009/05/an-entire-crop-of-new-lawyers-gets-laid-off-and-well-severanced#comments Thu, 21 May 2009 14:30:45 +0000 Choire Sicha http://www.theawl.com/2009/05/an-entire-crop-of-new-lawyers-gets-laid-off-and-well-severanced Law firm Fish & Richardson just deferred two-thirds of their incoming first-year associates. That's pretty bad! Though don't feel terrible for them. Half those kids are all getting paid $5000 a month for a year to not come to work. (The other half are only getting paid for six months.)

---

See more posts by Choire Sicha

6 comments

]]>
Law firm Fish & Richardson just deferred two-thirds of their incoming first-year associates. That's pretty bad! Though don't feel terrible for them. Half those kids are all getting paid $5000 a month for a year to not come to work. (The other half are only getting paid for six months.)

---

See more posts by Choire Sicha

6 comments

]]>
http://www.theawl.com/2009/05/an-entire-crop-of-new-lawyers-gets-laid-off-and-well-severanced/feed 6
How Much Do Young People Make In New York? http://www.theawl.com/2009/04/how-much-do-young-people-make-in-new-york http://www.theawl.com/2009/04/how-much-do-young-people-make-in-new-york#comments Thu, 09 Apr 2009 12:34:20 +0000 Choire Sicha http://www.theawl.com/2009/04/how-much-do-young-people-make-in-new-york The New York Press went out and asked young people how much money they are making in New York City! Their answers may not surprise you.
sheilam

---

See more posts by Choire Sicha

6 comments

]]>
The New York Press went out and asked young people how much money they are making in New York City! Their answers may not surprise you.
sheilam

---

See more posts by Choire Sicha

6 comments

]]>
http://www.theawl.com/2009/04/how-much-do-young-people-make-in-new-york/feed 6