IBT Media announced another round of layoffs and unveiled plans to spin off Newsweek into a separate entity.

At least 30 journalists got pink slips in Thursday’s bloodbath, according to Politico. The company publishes the International Business Times, Medical Daily, Fashion Times and Latin Times.

IBT CEO Etienne Uzac said Newsweek “will be split off into a separate operational entity.”

IBT was the surprise winner of Newsweek when Barry Diller’s IAC/InterActive Corp sold it in 2013.

“Our plan, which includes some downsizing, is part of an overall plan to drive efficiencies throughout the company,” he said.