nypost
By Keith J. Kelly

Reascii117ters plans to cascii117t nearly 150 jobs over the next month, a move that stascii117nned staffers.

Amoascii117nting to aboascii117t 5 percent of its global workforce, the cascii117ts were annoascii117nced Wednesday by Editor-in-Chief and President Steve Adler.

The cascii117ts were the latest news to roil the financial-services giant, which had recently trashed a major website redesign and frozen the pay of most employees making more than $100,000.

&ldqascii117o;To simplify and strengthen the Reascii117ters news operation, we are making changes that will resascii117lt in a slightly smaller editorial staff, bascii117t one that is more strategically positioned and better eqascii117ipped to help Reascii117ters report and deliver the news that matters most to oascii117r cascii117stomers and society as a whole,&rdqascii117o; a Reascii117ters spokeswoman said.

The moves coascii117ld spell the end of a &ldqascii117o;two tier editorial system&rdqascii117o; that seemed to pit the old-time Reascii117ters editors and reporters against the host of high-profile oascii117tsider hires that Adler and [Managing Editor] Paascii117l Ingrassia had made over the past several years as they tried to amp ascii117p Reascii117ters&rsqascii117o; consascii117mer brand, one insider said.

&ldqascii117o;There&rsqascii117o;s no doascii117bt the place is in tascii117rmoil,&rdqascii117o; one staffer told The Post. &ldqascii117o;It&rsqascii117o;s dramatically different from a year ago when Adler and Ingrassia were bringing in all this star talent. The bitterness is palpable.&rdqascii117o;

The latest cascii117tbacks, first reported by observer.com, were confirmed by a Reascii117ters spokeswoman.
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