In a story titled "Gawker's Traffic Numbers Are Worse Than Anyone Anticipated," The Atlantic looks into the Gawker redesign and discovers, well...

Now that the complaints have, for the most part, slowed to a trickle and the tech blogs have stopped looking into Gawker's traffic numbers, we decided to dig in a bit. What does the network's traffic look like now that two and a half months have passed? Turns out, according to Gawker's public statistics, things are much, much worse than was originally reported. Yes, the redesign cut traffic in half almost instantly, but instead of coming back, even more readers left the site behind.

You should read the whole article, because it's very interesting and it's illustrated with a very satisfying chart illustrating Gawker's rapid loss of readers.