Beastly Cuts: Troubled Website Dumps Two Dozen Writers & Editors

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Nostalgia isn't  always a good thing, as The Daily Beast staffers will attest, after massive layoffs last week restored the Web site to staff levels five years ago, according to a story in The Hollywood Reporter.

Two dozen editors and reporters were sacked, leaving the Beast workforce at approximately 65, THR.com reported. Reductions hit bureaus in New York and Washington, D.C. and decimated the Los Angeles staff, which now consists solely of one senior writer.

The Daily Beast, which is owned by Barry Diller's IAC/InterActiveCorp., is feeling the pain created by the parent company's ill-fated purchase of Newsweek in 2010.