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Home » D.C.-Based CQ Roll Call Lays Off 30 Employees

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D.C.-Based CQ Roll Call Lays Off 30 Employees

by | Apr 7, 2020

FiscalNote laid off 30 people at D.C.-based CQ Roll Call about 6% of its workforce. CQ Roll Call, which reports on Congress, was bought by FiscalNote from The Economist Group in 2018 for $180 million, reports Publishers Daily.

The report added that Adweek reports the online masthead removed the names of 16 editorial staffers; the three-person investigative staff was eliminated, as well as the print magazine staff. (One staffer moved to a different division.)

According to the Publishers Daily post, which covered a number of media cuts caused by the coronavirus, “FiscalNote CEO Tim Hwang sent a staff email announcing the changes, which he says were made “to ensure a more durable organization by defending against stronger macroeconomic winds that may prevail in light of the coronavirus and by pulling back in non-core and duplicate areas that support the changing needs of our clients.”

“Hwang said the company grew headcount by more than 30% in the past year. There are no further role eliminations planned, he wrote.

“Hwang and cofounder Gerald Yao will take a 50% salary cut to support up to six months of healthcare coverage for those who were let go. The company has also decided to “limit and defer compensation increases this year.””

Photo: dc.medill.northwestern

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Capitol Communicator

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Visit www.capitolcommunicator.com to learn more.

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