{"id":8443,"date":"2023-11-02T03:37:05","date_gmt":"2023-11-02T03:37:05","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/vogue-magazine-owner-conde-nast-to-trim-about-5-of-staff\/"},"modified":"2023-11-02T03:37:06","modified_gmt":"2023-11-02T03:37:06","slug":"vogue-magazine-owner-conde-nast-to-trim-about-5-of-staff","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8443","title":{"rendered":"Vogue magazine owner Conde Nast to trim about 5% of staff"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The front page of Vogue magazine is seen in Athens, Greece, March 31, 2019. REUTERS\/George Georgiopoulos\/File Photo<\/span>
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(Reuters) – Vogue magazine owner Conde Nast will trim about 5% of its staff, CEO Roger Lynch said on Wednesday, as the publisher looks to cut costs and grow in a highly competitive digital media landscape. <\/p>\n

The cuts will impact about 270 out of Conde Nast’s roughly 5,400 full-time employees globally, according to a report from the New York Times. <\/p>\n

The layoffs will be staggered over the next few months and the company is also undertaking a series of other actions including reducing office spaces and closing open roles to reduce costs and invest in strategic growth, Lynch said in a memo to employees. <\/p>\n

“However, these efforts alone won’t be enough to ensure we can continue to make the investments needed to grow our business profitably,” he said.<\/p>\n

Media companies across the globe are looking to diversify their revenue streams in an uncertain economy, with some resorting to layoffs in a bid to save costs.<\/p>\n

The Washington Post said last month it plans to offer voluntary separation packages to employees across all functions, as the newspaper looks to reduce headcount by 240.<\/p>\n

“Our audiences are changing, technology is changing, and what advertisers want from us is changing… the only certain mistake is to not change ourselves,” Lynch said. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The front page of Vogue magazine is seen in Athens, Greece, March 31, 2019. REUTERS\/George Georgiopoulos\/File Photo (Reuters)…<\/p>\n","protected":false},"author":1,"featured_media":3264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-8443","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nVogue magazine owner Conde Nast to trim about 5% of staff | inFundPros<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: The front page of Vogue magazine is seen in Athens, Greece, March 31, 2019. 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