The inevitable Condé Nast layoffs have come and gone, sooner than some expected. Two days ago the media giant announced its 'reorganization,' cutting 180 jobs and closing several magazines in the food and bridal sectors. Most notably Gourmet will cease monthly publication, along with Cookie, Modern Bride and Elegant Bride.
Accordingly, about 180 staffers at those magazines will be 'let go.' Many will be gone by the end of the week, paidContent reports, and initial speculations have forecasted further reductions and cuts.
In a memo announcing the closures, CEO Charles Townsend said, "These changes, combined with cost and workforce reductions now underway throughout the company, will speed the recovery of our current businesses and enable us to pursue new ventures. In the coming weeks, we hope to announce initiatives to develop digital versions of our brands that will make use of new devices and distribution channels."
However Maurie Perl, senior VP of corporate communications, has denied any further magazine closings, left open the possibility of further layoffs, and downplayed the role of McKinsey in the reorganization moves, according to thewrap.com.
Perl insists that the closure decisions were made at the corporate level, internally, and not directly recommended by McKinsey. If this is true, then for what reason did the consultants enter 4 Times Square?
And what of the purported digital initiatives simultaneously announced in Townsend's 'Black Monday' memo? We will have to wait for any news of that, and for the moment can only surmise on the details of the connection between McKinsey, the layoffs, and Condé Nast's new digital directions.
Sources: paidContent
thewrap


