Forbes Cuts ‘Small Percentage’ of Staff After Revenue Shortfalls

Skip to content CEO Sherry Phillips cites advertising pressure, changing audience behavior and strain on traditional media models September 18, 2026 @ 7:50 AM Forbes Forbes is cutting a “small percentage” of its staff across some business lines following revenue shortfalls during the first half of its fiscal year, CEO Sherry Phillips told employees Friday. “The advertising landscape remains highly competitive, audience behavior continues to evolve rapidly, and traditional media business models are under pressure,” Phillips wrote in a memo shared by The New York Times. Phillips said Forbes is reallocating resources toward the businesses, products, audiences and capabilities that have demonstrated the strongest growth and have the greatest potential to drive the company forward. That includes investing in areas where Forbes sees “meaningful opportunity,” while reconsidering how it deploys its time, workforce and capital. The memo did not disclose the number of affected employees, identify the business lines involved or specify whether the cuts include editorial positions. Phillips said affected employees had been notified. Forbes did not immediately respond to TheWrap’s request for additional information. More to come…