Sweeping Layoffs Hit TheStreet.com

Jim Cramer

Photo: Jim Cramer

Sweeping layoffs just hit market news site TheStreet.com, we’re hearing from two sources close to employees.Earlier this month, TheStreet made Elisabeth DeMarse its CEO and President.

TheStreet.com was cofounded by CNBC star Jim Cramer. Though he’s no longer an employee, Cramer still contributes a lot of content to the site.

A source in contact with TheStreet.com employees says it has cut all of its Main Street staff, three people in Boston, and some tech employees.

“Apparently there was some bouncer guy in the hallway in case anyone lost it,” says a source.

Layoffs suck and we’re sorry to hear anyone is having to go through this today.

We’d go over the names of people we’ve been told who are laid off, but it’s easier to say who is staying.

People who will remain at the company include: Chris Westfall (finance editor), Dan Freed, Shanthi Bharatwaj, Antoine Gara in finance reporting, and James Rogers. Video reporter and analyst Debra Borchardt is also staying. Video producer Gregg Greenberg will also remain.

TheStreet.com declined to comment.

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