According to a breaking report from WWD , Conde Nast is expected to complete its final round of cuts by next Thursday.
The New York-based publisher, which has instilled a hiring freeze, will slash about 80 jobs, equal to a decrease of about 2.5 percent of its 3,000-person workforce. Budgets across departments are also expected to get a haircut, with the worst-performing divisions and magazines getting cuts of up to 20 percent.
As part of that mandate, Condé is reducing the frequencies of most of its titles and will cease printing Teen Vogue. Monthly titles Vanity Fair, Vogue, Wired and The New Yorker, which publishes weekly, will not see any frequency changes. Brides will continue to publish six times a year.
According to sources, GQ, Glamour, Allure and Architectural Digest will go from 12 issues to 11; Bon Appétit will go from 11 issues to 10, and W and Condé Nast Traveler will now have eight issues, down from 10. Teen Vogue, which had published five issues a year, will close its print edition.
This latest round of cuts follows a turbulent year at Condé Nast. The year began with a reorganization that upended the publisher’s business and editorial teams after it let go of about 100 employees. On the edit side, creative, copy and research teams were combined across the company’s portfolio, which many have said has been a bumpy transition.
A spokesman for Condé Nast declined to comment on the frequency changes, budget cuts or layoffs.
Stay tuned for updates as we learn more about the upheavel in the media industry....