Consulting firm McKinsey & Co. is back at the Condé Nast offices, Adweek reports. McKinsey also stepped in back in 2009, when Condé was facing a deep decline in ad dollars. Based on their recommendations, Condé closed Gourmet, Cookie, Modern Bride and Elegant Bride — not to mention laid off staff and cut budgets throughout the company.
Is McKinsey’s re-entry a sign of impending doom for more Condé brands? At this point, no: Condé insiders told Adweek that there will not be a repeat of 2009’s cuts; rather, McKinsey is going to help Condé price its digital products. But McKinsey may also be likely to address what one executive described as the “growing divide among those who have adapted to the new order and those who haven’t.”
Ah, the terrifying new digital world order. Stay strong, Condé.