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Martha Stewart Fires Nearly 50 Employees After Former CEO Leaves To Join Gwyneth Paltrow At Goop!

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WOWZA!

Martha Stewart has reportedly fired almost 50 employees in a town hall meeting that took place on Wednesday - nearly one week after former CEO Lisa Gersh left to head Gwyneth Paltrow's Goop.

We're not saying the two things are related, but it's all falling together rather coincidentally! CEO leaves to work for a competitor with a heated history, and workplace chaos ensues during a transition in leadership.

[ Related: Martha Stewart Says Gwyneth Paltrow Should Stick To Acting! ]

A spy inside the meeting revealed workers were crying and very upset by the layoffs - and sales/marketing departments were hit hardest.

What's even worse -

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Jay Leno Burns Network About Layoffs During Monologue

Filed under: Jay LenoBusiness Blitz

Don't let his cuddly exterior fool ya!

Mess with Jay Leno, and you will feel his WRATH!

The Tonight Show talk show host was on a roll during his opening monologue where, right off the bat, he called out Comcast for laying off staff members even though the show is absolutely a cash cow for the network.

Watch (above) the HIGHlarious zingers for yourself!!!

Loyalty: the things it will make you do and say.

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AOL To Fire 900 Employees After Acquiring Huffington Post

Filed under: Tech TalkSad Sad

AOL Layoffs

That hurts.

In order to integrate the Huffington Post into the AOL family, the company will be eliminating 900 jobs as they restructure the blog to try to return to revenue growth.

AOL's U.S., Chief Executive Officer Tim Armstrong wrote in a memo to employees on Thursday that the company will cut as many as 700 jobs in India and 200 in the U.S.

At the Bloomberg Media Summit in New York, Armstrong said:

“The changes for me today are very personal. AOL employees deserve a tremendous amount of credit because I don’t think it’s easy to go from managing decline to managing growth."

That should ease the pain.

Despite the cuts and the declining revenue even before purchasing the Huffington Post for $315 million, the executive maintains the company is focusing on growth, saying:

“Our strategy remains clear: create high quality content experiences for consumers, at scale. Today, we are announcing an organizational structure that will significantly improve AOL’s ability to focus on growth.”

“AOL will turn around," he added. "I have no doubt about that.”

For the 5,860 employees sake, we hope he's right.

Do U think AOL will turn around with the acquisition of the Huffington Post or continue to decline?

[Image via WENN.]

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Dear Providence: This Is INSANE!!!

Filed under: Icky Icky PooPolitik

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The world is going to hell all over.

Last night, it was decided by the Providence School Board of Rhode Island that termination letters would be sent to all, yes ALL, of the city's nearly 2,000 teachers in an effort to have "maximum flexibility" to make budget cuts.

A travesty! How could they do such a thing to the community?!

Mayor Angel Taveras was on hand at the board's meeting to hear the vote, along with more than 700 teachers who implored the voters to do the right thing and save their futures as educators. But even the power of their numbers couldn't save them from their fate - the board voted 4-3 in favor of sending termination letters.

Now, they all face the uncertainty of losing their jobs come the end of this year. Some of them maybe spared from the layoffs, but the majority will not.

Mayor Taveras said in a statement that although he was sensitive to the teachers plight and their uncertain futures, "putting Providence back on solid financial footing will require shared sacrifice across our community."

This is…deplorable. How did you screw things up so badly that you need to wipe your schools clean of their teachers, Mr. Mayor? How about your fire the city's accountants for mismanaging your funds so atrociously, instead of leaving the people who are educating the future of your city in the lurch?!

Our deepest sympathies go out the the teachers of Providence for being dealt this heavy blow, as well as their students, who are the ones who are really going to be losing out in the end.

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It's Official: MySpace Lays Off 500 Employees

Filed under: Sad SadBusiness Blitz

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Does this mark the end of MySpace? It doesn't support the contrary.

Execs at MySpace made the official announcement today that they are laying of 47% of their workforce for the social networking site. CEO Mike Jones noted that the percentage would find approximately 500 employees across all of their global divisions out of work. Though this is a massive loss of their workforce, Mike tried to put a positive spin on the change and hinted that the changes to come could save the company. He explained:

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