Citing the overall advertising downturn and the economic uncertainty following the Sept. 11 terrorist attacks, Sarah Chubb, president of New York-based CondeNet, said on Tuesday that the online unit of Advance Publications has laid off roughly 25 percent of its staff.
While Chubb said that the company laid off 25 of 114 employees, sources said the number was slightly higher, with about 35 employees let go.
"We needed to be smaller and have a smaller cost structure to face the challenges of the year ahead," Chubb said.
All divisions within CondeNet, which includes Concierge.com, Epicurious.com and Style.com, were effected by the layoffs.
"The cuts were across the board," Chubb said, although sources said that a majority of those cut came from Style.com, which is the online home of Vogue and W, and also is the group?s largest division. Style.com recently launched a multimillion dollar print campaign to support its holiday commerce area, which is developed through a partnership with Neiman-Marcus.
Advertisers across CondeNet include Emporio Armani, Gevalia and Spiegel.com.
Founded in 1995, CondeNet had a round of layoffs in February and scaled back on Phys.com (which became the Web site for Self) and Swoon.com (which was formerly the Web site for GQ and Details.)
Chubb said that despite the economic uncertainty, site traffic has been very good in recent weeks and CondeNet remains committed to the Internet in the long term. "All three sites are in awfully good shape from a consumer stand point," Chubb said. "The truth is, the revenue picture is a question mark because of what's happening in the media business in general."