Consulting Firm McKinsey Steps in Again at Condé Nast
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.
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