Bloomberg News in Spotlight as Layoffs Follow China Mothballing, Spygate

NEW YORK ( TheStreet) -- Bloomberg LP has been making news lately almost as much as it reports the world's happenings, a situation that can't be to the liking of its editor-in-chief, the sometimes volatile Matt Winkler.

The world's largest news organization made headlines on Monday when it laid-off around 40 reporters and editors, including some of its older and best-known journalists. The reordering of Bloomberg's investigations, entertainment and sports groups came as Michael Forsythe, another longtime and award-winning reporter, said via Twitter on Tuesday that he too would be leaving the New York-based media and financial services company.

Forsythe was suspended last week after news outlets, including the New York Times, reported that top editors had elected not to publish an investigative story about China because of concerns it could jeopardize Bloomberg's terminal sales in the country. Winkler, who fiercely denied the story was killed, defended his decision to shelve Forsythe's report, likening it to the actions of foreign news bureaus that practiced self-censorship in order to remain in Germany during the Nazi reign, the Times reported.

In a Twitter posting Tuesday, Forsythe said he was leaving the company. "I can confirm that I have left Bloomberg News. That's all I'm going to say for now," read the tweet.

A Bloomberg spokesman didn't immediately return a phone call and e-mail for comment.

Winkler, who has been known to shout loudly in the company's expansive New York newsroom, was thrown into a maelstrom of allegations in May that reporters had snooped on terminal users despite complaints from investment banking clients and their employees. The dust-up gave rivals an opportunity for ample schadenfreude but the repercussions on its business appeared to be short-lived.

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