Condé Nast to Lay Off 5% of Employees, Close Offices in Bid to Cut Costs
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variety.comTodd Spangler NY Digital Editor Media and publishing company Condé Nast will lay off upwards of 300 employees, representing 5% of its headcount, and take other cost-reduction measures as it looks to improve efficiency.
Condé Nast says it has more than 6,000 employees, meaning the job cuts will eliminate more than 300 roles. The cutbacks were announced by CEO Roger Lynch wrote in a memo to company staff Wednesday.
The New York-based company is “prioritizing cost reductions” through office space consolidations, according to Lynch. For example, Condé Nast is already in the process of bringing its U.K.
teams together in one space. It also is closing open roles and “re-phasing certain long-term projects across the business,” he wrote.
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