Major changes at Portfolio

The New York Observer reports Portfolio will lay off about 20 percent of its staff. The monthly magazine will also reduce publication to 10 times per year. And, to add to the mix, Portfolio.com will be "severely scaled back."  In a time where Web sites are just "companion sites" to print versions, Portfolio.com was especially "unique for its original content and its large staff." The cutbacks mean that the the Web site "will begin to look a lot like those other sites." 

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