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Executives at Condé Nast, the international media company that includes publications like Vanity Fair, Vogue, GQ and The New Yorker, will temporarily reduce pay and consider the number of layoffs it has to make in response to COVID-19’s impact on its business, CEO Roger Lynch told staffers in an email today.
“[I]t’s very likely our advertising clients, consumers and, therefore, our company will be operating under significant financial pressure for some time,” Lynch said in the email obtained by Adweek.