We hear that Oyster, the high-end travel website that laid off more than a third of its staff in December, has canned its remaining editorial staffers.
A tipster says Oyster’s “remaining three reporters and last remaining editor” were laid off today via e-mail. Oyster’s business model involved spending lots of money on seasoned reporters to do detailed hotel reviews. That didn’t work out so well, and yesterday it announced plans to transform itself into a hotel booking site. Another source familiar with the company says CEO Elie Seidman has been trying to convince staffers to take a 50% paycut (which Seidman denies). Maybe to help pay for the business development people he’s hiring? A call to Seidman was not immediately returned.
Source: Gawker.com