Thursday, October 29, 2009

Wall Street Journal Closes Its Boston Bureau

Nine reporters affected.

Wow, first news that Forbes is cutting back, now this out of WSJ.

A friend sends along WSJ Editor Robert Thomson's email to staff.

From: Thomson, Robert
Sent: Thursday, October 29, 2009 11:26 AM
Subject: Boston

Today we told our team in Boston that we are closing the bureau in its present form. The economic background to the closure is painfully obvious to us all. An investigative function will remain in Boston, but the core reporting team will be disbanded, though all nine reporters affected will certainly be able to apply for openings elsewhere on the paper. Coverage of the Boston mutual fund industry will switch to the Money and Investing team and we are creating an enhanced New York-based education team. Any such decision inevitably stirs apprehension and uncertainty, but there are no plans, nascent or otherwise, to close any other U.S. or international bureau. Meanwhile, the Newswires bureau and the MarketWatch team in Boston will remain at their present staffing levels.

That there has been truly great reporting under the generalship of Gary Putka out of Boston over many, many years is not in doubt. But we remain in the midst of a profound downturn in advertising revenue and thus must think the unthinkable.


This is particularily shocking, as Thomson notes in the email, in Boston there is a major mutual fund industry to cover.

Will the Forbes and WSJ cuts now give cover for cuts at CNBC?

Further note, both Forbes and WSJ are considered the savvy players in the print industry. I can only imagine the kind of bleeding must be going on at other print outlets.

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