Reader's Digest Association Hits Brakes, Again

Poor results lead to more layoffs, international scale-back

More cost-saving moves are afoot at Reader’s Digest Association after what CEO Robert Guth called “disappointing” results in the second quarter of 2012.

The global publisher and direct marketer has been trying to turn itself around, but revenue tumbled 22.5 percent to $291 million in the quarter versus the year-ago period. Factors included the sale of Every Day With Rachael Ray, declining magazine circulation, a soft food advertising market and badly performing books and home entertainment businesses.

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