March 22, 2010
A couple of the key points:
It’s a thought-provoking piece that illustrates how vulnerable we all are in a rapidly changing world. I spend a lot of time thinking about the creative/editorial side of media, but it hadn’t occurred to me that the suits were facing the same kind of battle against career obsolescence.
Another interesting tidbit from this article: according to Ad Age’s analysis, which tracks pretty closely with what I’ve read elsewhere, newspapers and magazines shed about 130,000 jobs in the past five years. During those same five years, new media added about 18,000 jobs.
So, even those who made the jump early had no guarantee of landing a gig, as the old media were sloughing off jobs about seven times as fast as the new media were creating them.