CondĂ© Cuts Continue: 15 at Digital, More to Come
Condé Nast, which shuttered four magazines this week, said it won’t be cutting any more titles. But that won’t be the last of its cuts: The publisher is looking to cut costs by roughly 25 percent at all the magazines it publishes, likely leading to layoffs in many cases.
Today’s example doesn’t come from a magazine per se, but from the company’s digital group, which let go of “more than” 15 people, MediaWeek reports.
You should see a trickle of these reports in the weeks to come, and from other publishers as well: Employees at Time Warner’s (TWX) Time Inc., for example, are bracing for cuts this fall, or in early 2010, and my former colleagues at Forbes expect to hear about another set of layoffs in the next week or so. And whoever wins the bidding for BusinessWeek will almost certainly take an ax to that company’s payroll.