Forbes Media continues to eliminate benefits and jobs "across all areas of the organization," MediaWeek reported.

Included in the cutbacks are a suspension of the company's 401(k) match, reductions in salaries for employees making more than US$100,000, and a week-long unpaid furlough. A speculated layoff of 70 employees is also expected.

Chairman and CEO Steve Forbes said in a statement that the cuts have to do with "the unprecedented environment we find ourselves in today and the need for ongoing reorganization of the company," MediaWeek reported.

The restructuring of Forbes has already resulted in 62 posts being made redundant in the end of last year.