POLITICO announces layoffs, new product

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POLITICO is planning to launch a paid subscription product aimed at finance and investment professionals, an implicit acknowledgement of the increasingly competitive media landscape for publications catering to elite decision-makers.

On Tuesday, POLITICO also informed staff that the publication would cut about 3% of its 750-person global staff, a reduction that included well-known bylines like Michael Schaffer and several former top editors.

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