Not even Condé Nast — with such popular titles as The New Yorker, Wired, Vanity Fair and Vogue — is safe from the continuing decline of print. According to The New York Post, Condé execs are meeting with all of its titles top people and asking them to trim five percent from their budgets for the upcoming fiscal year.
That reduction is in addition to the 10 percent cut that Condé asked the magazines to make over the summer. Even The New Yorker, which didn’t have to cut back on its budget during the summer, has to drop the five percent.
When companies start scaling back on their major players, layoffs typically aren’t that far behind. No word on that yet, but don’t be surprised if staffers start dropping from Condé sooner rather than later.