The Atlantic Lays Off Nearly 20% of Staff Amid Corona Fallout

The Atlantic is making drastic cuts to its staff due to the ongoing fallout of the coronavirus pandemic. The 162-year-old magazine is reducing its headcount by 68 people, or 17 percent of its staff, saying in a memo that its part of a “reset of our business strategy in response to the current economic climate.” “While these decisions are profoundly difficult, they have been made to ensure the long-term financial stability of The Atlantic,” the publication said. Although the publication went on something of a publicity spree more recently to highlight a surge in subscriptions, adding 90,000 subscribers since March, around when the pandemic began, it’s still in need of cost-cutting. Many other media outlets have been in the same position: record traffic and subscriptions but effectively no advertising and no events to bring in needed additional revenue. David Bradley, chairman and owner of Atlantic Media, which also has a majority investor in Laurene Powell Jobs, called the magazine’s coverage of the pandemic “unparalleled.” But it didn’t save jobs. “These crucial gains have not forestalled abrupt and dramatic losses in our advertising and live events businesses,” Bradley said. “As stewards of this 163-year old American institution, our responsibility is to guarantee The Atlantic’s long-term financial

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