Condé Nast is in the process of cutting nearly 80 jobs from its 2,000-employee workforce, reports WWD. The cuts will reportedly be felt across all departments and magazines, but will focus on the portions that are performing more poorly than others. Sources tell me digital departments will be hit the least hard.
WWD reports that many magazines will be seeing a reduction in their publishing frequencies–including Bon Appétit, GQ, Glamour, Allure, and Architectural Digest. Teen Vogue, says WWD, will stop publishing its print magazine and focus solely on its digital product.
The cuts have been rumored for months now. A source told me employees have been actively bracing for this announcement. Another described the upcoming cuts as an expected “bloodbath,” one that will focus mostly on ailing print and photo divisions.
I reached out to Condé Nast for comment and will update this post if I hear back. You can read the full WWD report here.
Update: Condé Nast has provided Fast Company with this comment:
Teen Vogue has experienced tremendous audience growth across its digital, social and video platforms this past year. We are aggressively investing in the brand and all of its consumer touchpoints, including events like the upcoming inaugural Teen Vogue Summit next month in Los Angeles.
As audiences continue to evolve around content consumption, we will modernize and calibrate how, where and when we produce and distribute our content to be in synch with the cultural moments and platforms most important to our audiences. Though the quarterly print editions will cease publishing on a regular schedule, we will explore reimagined special issues timed to specific moments (vs. months) as we do in social.