Layoffs at Conde Nast may continue today
October 11, 2012
The axe swung at Condé Nast yesterday, and it’s not expected to stop chopping until at least tomorrow.
At least a dozen staffers were let go, most of them on the editorial side at Self magazine, according to The New York Post’s Keith Kelly.
Vice president of media relations for digital and corporate communications Susan Portnoy also lost her job after more than six years in her position.
The cuts are part of a mandate by Condé Nast to reduce costs by 10 percent this year, the latest round of cost-cutting following what was a brutal recession. The company also wants to reduce costs by 5 percent next year.
There are rumors that the layoffs will continue today, and Kelly says Glamour and GQ are in danger, though he notes that The New Yorker and Vanity Fair, two of the company’s most successful brands, are believed to be safe.
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