Condé Nast Layoffs 2018: Cuts at Glamour and Vanity Fair, Revenue Declined in 2017

Condé Nast Layoffs 2018
iStock/Estherrr

Condé Nast Inc’s restructuring plans under the newly appointed editors in chief (EiCs) have resulted in job cuts in Glamour and Vanity Fair’s editorial staff. Condé Nast’s layoffs in 2018 for both publications are limited to the print sector. These layoffs are attributed to consistent readership decline. The company is now trying to seek new sources of revenue by investing more in video and branded content.

Vanity Fair and Glamour are taking the first steps in reshaping their teams to reflect the new editorial directions of the brands — with new additions and initiatives to be announced shortly,” the company said. “The priority for each is to create quality and provocative content across all platforms equally, embracing the next generation of readers and viewers.”

The Glamour layoffs under new editor-in-chief Samantha Barry, who took over from Cindi Leive in January, affected around 10 people, including Fashion Director Jillian Davison, Deputy Fashion Director Sasha Iglehart, West Coast Editor Jessica Kantor, and Sex and Relationships Editor Cady Drell, who confirmed that she is no longer with Glamour through Twitter:

The Vanity Fair layoffs, performed by former EiC Graydon Carter’s replacement, Radhika Jones, affected less than 20 employees. Those who did lose their jobs include Managing Editor Chris Garett, Features Editor Jane Sarkin, Deputy Editors Aimee Bell and Dana Brown, Associate Managing Editor Ellen Kiell, Senior Photography Producer Kathryn MacLeod, and Executive Director of Communications Beth Kseniak.

Layoffs at Condé Nast in 2017

With audiences continuing to shift towards online platforms like those provided by Alphabet Inc (NASDAQ:GOOG) and Facebook, Inc. (NASDAQ:FB), the demand for print publications is decreasing day-by-day. As readership declines, advertising revenue also decreases; Condé Nast reported approximately $100.0 million less revenue in 2017 compared to the year prior. All these factors are contributing to 2018’s print media layoffs at Condé Nast.

Condé Nast observed the most significant circulation fall in its major magazine brands since the magazine market dropped by 5.6% in 2017. To cope with this issue, it made several changes over the past 18 months. The Condé Nast layoffs in 2017 were also a part of the struggle that print media is facing.

The GQ layoffs on November 9 affected seven editorial staff members, including Executive Digital Director Mike Hofman, Digital Entertainment Editor Ashley Fetters, and Fashion Director Madeline Weeks. Fetters tweeted on her personal account, “So: Yesterday GQ laid me off, alongside a slew of extremely talented others. Still not the worst Nov. 9 of my life, somehow?! But a sad one nonetheless.”

Condé Nast layoffs in 2018 could continue, with some of the company’s weaker magazines and division potentially also experiencing future cuts to sustain the business in this digital economy.

 

Sources

Vanity Fair, Glamour begin purging editorial staffs, New York Post, February 15, 2018.

Report: Another Round Of Layoffs Hits ‘Glamour’ And ‘Vanity Fair‘,Fashionista, February 16, 2018.

Condé Nast: No Longer in Vogue,Digital Innovation and Transformation, February 1, 2018.

Layoffs Hit GQ as Condé Nast Cuts Continue, WWD, November 10, 2017.

Condé Nast suffers biggest audience decline as magazine market drops 6%, Campaign, February 09, 2017.

Condé Nast Layoffs Hit Editorial Staff at Glamour and Vanity Fair, WWD, February 15, 2018.

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