Weider lays off 80 including top execs after merger. (Media & Technology).SIX days after Florida-based American Media Inc. completed the acquisition of Weider Publications for $350 million in cash, it laid off 80 employees at the Woodland Hills company, including all of its top management. David Pecker, American Media CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said the move was meant to eliminate jobs already performed at American Media, saving the company about $10 million. The cuts involved staff in accounting, back-shop operations, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and production as well. American Media acquired the company on Jan. 23 from privately-held Weider Health and Fitness. Among those ousted were Weider President and CEO Russell Benson, COO John Sheehy John Sheehy (October 121889 in Tuam County, Galway - May 1949) was a British colonial official. He received his education at St. Jarlath's College Tuam, Co. Galway St Patrick's College Maynooth and Queens College Galway. , Executive Vice President Henry Marks and Development Vice President George Slowick Jr. Joe Weider Josef E. "Joe" Weider (born November 29, 1922) is the Canadian co-founder of the International Federation of BodyBuilders (IFBB) along with brother Ben Weider and creator of the Mr. Olympia, Ms. Olympia and the now defunct Masters Olympia bodybuilding contests. , the company's 80-year-old founder and chairman, established Weider Health and Fitness in 1939 with his brother Ben. Weider Publications employs about 325 people and publishes seven magazines with a combined circulation of about 4 million. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Publishers Information Bureau, Shape, the company's top publication, has increased its circulation from 950,000 in 1997, to 1.7 million today, with ad pages increasing by 10 percent last year. |
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