Martha Stewart Cuts Staff, Magazines Post Almost Universal Decline in Sales
In other news that has nothing to do with the Olympics, the NYP is reporting that Martha Stewart has cut 25 people across “merchandising, media, and corporate ranks.” Apparently morale there is low. The company co-CEO Wenda Harris Millard also announced that it “no longer planned to fund broadcasting internally,” meaning that Sheraton Kalouria is out as president of broadcasting.
Elsewhere in magazine land things are also dire. Dire by half, in fact. WWD says that “nearly every editor in chief is seeing the kind of declines that once would have gotten them fired,” and that a healthy magazine can no longer be defined by successive growth.
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