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The Daily to lay off nearly one-third of its staff, says AllThingsD

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According to a report from ATD, The Daily will be shedding nearly one third of its staff later today.

The Daily stock 1020
The Daily stock 1020

Tablet newspaper The Daily will be cutting its staff by nearly a third, according to AllThingsD. The report claims that employees will be informed of the layoffs at some point today, with approximately 50 Daily staffers affected. According to ATD, the bulk of the cuts will be to the staff of the editorial page and sports section, though both design and production staff will be impacted as well. The news comes not long after the New York Observer reported that The Daily was "on watch" as parent company News Corp. looked to cut costs. Daily editor-in-chief Jesse Angelo responded to that report in a staff memo, saying that it was a "misinformed, untrue rumor" and that "we will be nimble and we will compete." The initial Observer report claimed that The Daily would be re-evaluated after the US presidential elections in November, though it looks like News Corp. may have changed that original timetable.