Mashable lays off 50 people and closes Singapore-based APAC office after $50 million acquisition

Mashable founder Pete Cashmore is expected to remain with the company after the retrenchment of some 50 staff.
Reuters

Mashable sealed the deal in its acquisition by publisher Ziff Davis for a fire sale price of less than $50 million this week and wasted no time to retrench staff in its global offices including its Asia Pacific base in Singapore.

While Mashable’s new owners plan on keeping the site up and running, Recode reported that it was laying off 50 staff while offering others jobs at publications run by Ziff Davis, according to an unnamed source.

Mashable founder Pete Cashmore is expected to remain with the company.

In a letter to staff, Cashmore said: “At our last meeting, you asked whether there would be changes to the organisation post-acquisition. Unfortunately, I must confirm that this will be the case.”

“It is never easy to see colleagues and friends depart the company.”

Citing an unnamed source from the company, Channel NewsAsia reported that Mashable Asia will close.

Its editor Victoria Ho was among other Mashable staff who announced their departures on Wednesday (Dec 6) over Twitter.