MOSCOW (Pakistan Point News / Sputnik - 02nd March, 2021) Bloomberg has reduced its employees in a number of countries, including the staff in Moscow's office, to address the drawbacks in organization that became apparent when the news agency adopted distance working, Bloomberg's press service said on Tuesday.
On February 11, Bloomberg announced that it started a global restructure, adding that some of its employees would have to leave the news agency.
"Covid has highlighted these strengths and weaknesses. But in truth they have been evident for some time. We need to have more ownership and accountability," the press service said in a statement forwarded to RIA Novosti, adding that the news agency "decided to reorganize, and sadly this has meant losing some of our colleagues."
The press service added that the aim of the recent restructure was to improve employee efficiency and accountability.
"The main aim of the new structure is to elevate editing. A system that relies on somebody further down the production line correcting errors means nobody owns a story. We need accountability: you sign off on a story only when you think it is ready to publish. You are responsible for it. We also need editors who can work for more than one team," the press service said.
The COVID-19 pandemic has a grave impact on the journalism industry. In October, a survey conducted by the US-based International Center for Journalists revealed that, during the pandemic, 21 percent of the journalists had their salaries cut, six percent were furloughed, and six percent were laid off.
