The Wall Street Journal’s Russell Adams smartly homes in on the financial viability of Slate magazine, which this week laid off four staffers, including popular media critic Jack Shafer. In explaining the layoffs to me earlier this week, Slate Editor David Plotz attributed them to “financial and editorial future reasons.”

In its second-quarter financial results, the Post reported a dip of 13 percent in online publishing revenues---an accounting category that includes Slate and other properties.

Adams’ story, however, includes this passage:

Slate’s publisher and general manager, John Alderman, said that after a strong 2010, the site has seen unexpected “head winds” in advertising, but he insisted the cuts were “unrelated” to the latest quarterly results.

To what results were they related, then?