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Condé Nast laid off just under 100 of its roughly 2,700 U.S. employees and temporarily furloughed a similar number in roles that “can’t effectively work during this period,” CEO Roger Lynch wrote in a company email today. A handful of additional employees will have reduced work schedules.
The 111-year-old publisher owns more than two dozen media brands, including Vogue, Vanity Fair, The New Yorker, GQ, Wired and Bon Appétit.
Lynch said the job cuts were a “last option,” after several other cost-saving actions such as delaying projects, renegotiating contracts, limiting new hires, and temporarily reducing salaries for the CEO and others in higher-paid roles.
Condé Nast will be providing laid-off employees with a severance package and job placement resources, and the publisher will continue to pay healthcare premiums for furloughed workers.
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