The layoffs, coming only a week an a half before Christmas, unnerved employees, many of whom left in tears, carrying their belongings in Martha Stewart bags.
The layoffs were the first moves unveiled by former scrap metal executive Daniel Dienst, a former MSO board member who was hired as the new CEO in October.
Dienst is a media outsider, and based on his experience trying to salvage rust belt companies in the metals industry, many expected radical retrenchments. Those predictions came to fruition on Thursday.
Stewart seemed content to follow his advice. She spent last week in Miami at Art Basel, the winter playground of the beautiful people, where dozens of private jets landed to party and peruse the international art market.
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