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Print Edition StoriesTechTarget Inc. will lay off 76 employees and cease to publish its two print magazines and instead publish their content online instead, according to a document filed Thursday with the U.S. Securities and Exchange Commission. The document cited “current and anticipated future economic uncertainties.”
TechTarget (Nasdaq: TTGT), a publisher and conference organizer that focused on the IT industry, had hired 150 new employees in the past two years. It wasn’t immediately clear how many of those employees were included in the layoffs, or exactly how many of those laid off had worked in the company’s Needham headquarters. TechTarget also maintains offices in San Francisco and Alpharetta, Ga.
The layoffs are set to be complete no later than Dec. 31. “Information Security” and “Storage” are TechTarget’s only print magazine titles. The expense reduction program, which also includes a reduction in some of its office leases, will cost the company $1.8 million to $2 million, according to the SEC filing.
A spokesman for Techtarget declined to say how many positions would be cut at the company's Massachusetts headquarters, or elaborate on the reasons for the move.
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