Forbes Layoffs: Publisher Cuts Small Percentage of Staff Amid First-Half Revenue Shortfalls
Forbes is cutting a small percentage of its staff across business lines following first-half revenue shortfalls, CEO Sherry Phillips confirmed in a Friday memo. Citing ad-market pressures and shifting habits, the publisher is reallocating resources to high-growth areas. 'These decisions are never easy, and we are committed to supporting the employees affected by these changes,' the spokesperson said.
Forbes is laying off a small percentage of its workforce across business lines following revenue shortfalls in the first half of the fiscal year, executive leadership confirmed Friday, September 18.
Layoffs and Strategic Realignment
Forbes confirmed the workforce reductions following reports from an employee memo shared by New York Times media reporter Ben Mullin. The company declined to specify the exact number of impacted employees, identify affected departments, or clarify whether editorial roles faced cuts. Loftus Administrative Services Plans Permanent Layoffs for 407 Workers in Washington.
Sherry Phillips' Memo To Employees Goes Viral
News: Forbes is cutting staff, a decision its CEO, Sherry Phillips, attributes to “revenue shortfalls in the first half of the year.” Memo: pic.twitter.com/ioYTldNqys
— Ben Mullin (@BenMullin) September 18, 2026
CEO Sherry Phillips stated that resources will pivot toward high-growth products, audiences, and capabilities, noting that affected staff have already been notified.
Executive Commentary and Industry Pressures
"The media industry continues to face significant challenges,” a Forbes spokesperson told TheWrap. In her memo, Phillips attributed the adjustments to a difficult advertising market, shifting audience habits, and structural pressures on traditional media models. She emphasised that the company is rebalancing time, capital, and headcount to capture areas with "meaningful opportunity". The memo was shared on X (formerly Twitter).
Wider Media Context
The publisher’s headcount reduction reflects broader contraction across digital publishing and legacy media as advertising budgets fluctuate and traffic distribution models evolve. Radiant World Layoffs: Iron Ore Trader Cuts Asia Staff by 50% Amid Fraud Probe and Asset Freezes.
“These decisions are never easy, and we are committed to supporting the employees affected by these changes,” the spokesperson added, noting that Forbes is positioning operations for its next growth phase.
(The above story first appeared on LatestLY on Sep 18, 2026 11:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
