Meredith Makes Some Post-Acquisition Adjustments

After adding 600 employees, company trims 100.

The timing of this latest move is noteworthy.

On Thursday, Meredith Corp. will announce its quarterly earnings. Today, ahead of that announcement, the company has confirmed that around 100 employees are being laid off. According to the Des Moines Register, a third of the cuts are in Iowa, another third are in New York City and the remainder spread across the country:

In the past year, Meredith has acquired Shape and Martha Stewart Living magazines, four TV stations, mywedding.com and the digital advertising platform Selectable. As the new businesses are folded into the company, Meredith has found redundancies and ways to make the company more efficient, spokesman Art Slusark said.

Per reporter Joel Aschbrenner, the adjustment echos a similar post-acquisitions shuffle at Meredith in 2012, when 350 people were added and then 80 laid off. Today’s moves will trim the equivalent of a little over 15% from the recently added ranks of 600 employees.
 
[Image via: meredith.com]