Over the past year, Condé Nast has tried a number of cost-cutting measures — from limiting corporate car use to shutting down whole magazines. Yesterday, the company said it would no longer be paying for its employees’ newspaper subscriptions. Is this evidence of McKinsey & Co. at work?
According to a memo leaked to Mediaite, the company will no longer pick up the tab for newspaper subscriptions, single copies or house accounts at Hudson News — unless a title can’t be found online or in the Condé library.
What will they cut next? Gym membership discounts? Visits from the sushi chef? Where will they draw the line?
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