The cuts won't mean layoffs or furloughs for the office's 90-person staff, many on loan from other agencies or outside institutions.
One group the Mayor bragged won't see layoffs is the Police, despite the controversy about them taking millions from Muni in "work orders" to patrol buses.
"It's going to be a tough pill to swallow for people of this state when they see there won't be any layoffs," said Representative Themis Klarides of Derby, the deputy minority House leader.
"The good part is that we won't have large layoffs.
Quartz said it won't be making layoffs and it will maintain its brand and existing editorial leadership team.
Layoffs won't affect them, directly, but could affect their offices.
"If that market comes back, the layoffs won't hurt them".
"All of those layoffs won't be here, of course," said Michael Ellis, an associate professor of economics and finance at Texas Wesleyan University.
The news was first reported in Valleywag, which said the layoffs "won't break any records for AOL" and that the cuts include some recent hires.
Especially when, by some estimates, at Nokia's current burn rate it has less than two years of cash left in the bank and even the latest round of layoffs won't slow that.
Since the quarter ends on July 31, the report won't cover today's layoffs, presumably, but it should give a general sense of whether the cuts indicate broader issues or if this is, from a company perspective, a relatively minor administrative move.
