Incisive Media to axe up to 50 jobs

by Daniel Farey-Jones, Brand Republic 01-Oct-08, 16:00

LONDON - Business media company Incisive Media is to cut up to 50 jobs, or 6% of its workforce.

According to a source at the company, James Hanbury, UK and Asia chief executive, informed staff this week of the need to make the cuts to its 800-strong workforce.

Incisive has been affected by the downturn in some of its markets such as mortgages and finance.

In July it restructured its business and technology group, merging IT Week into Computing magazine and organising its editorial teams by content specialisms rather than by publication.

The company has had a recruitment freeze in place for around three months.

Incisive was formed in 1994 and launched Investment Week in 1995. It floated on the London stock exchange in 2000 and acquired seven companies between then and 2006, when it was acquired by private equity firm Apax for £275m.

It went on to acquire another six companies including US legal media company ALM Media for $630m (£315m) in July 2007.