Mashable fires 30% of workforce following Ziff Davis acquisition

Mashable is going through some dark days. The digital media company finalized its $50 million sale to publisher Ziff Davis on Tuesday, a deal reported on by the Wall Street Journal last month. That $50 million price tag is doubtless a bitter pill for Mashable to swallow: As recently as last year, the company had been valued at $250 million. In addition, Mashable has now laid off 50 employees, according to reports from the New York Post and Recode. According to a source who spoke to Variety, those fifty employees represent 30% of the company’s staffers. Though interestingly enough, Mashable CEO Pete Cashmore and Editor-in-Chief Jessica Coen will keep their current jobs under company’s new owners, according to the Post.

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