80 Ad Jobs Will be Killed at Conde Nast Media Group

Company continues on its diet plan ahead of its move to its new downtown headquarters at 1 World Trade -aka- the Freedom Tower


Conde Nast Media Group Chief Edward Menicheschi is making some cuts in his unit to refocus the group on digital ad sales as print ad revenue has been on a steady decline throughout the industry. Mr. Menicheschi who was named President and CMO of the media group back in August is said to be puzzled as to why no major shift towards digital was considered years ago. The group was mostly a print ad focused operation.
This will be the first major round of layoffs at Condé Nast, a unit of Advance Publications Inc., since 2012. The print advertising market has been tough so far this year, with Condé Nast increasing its focus on digital ad sales and products. Condé Nast, publisher of such magazines as Vogue, Wired and The New Yorker, employs approximately 1,000 in its corporate offices in New York, which means the layoffs represent less than 10% of that workforce.

80 Ad Jobs Will be Killed at Conde Nast Media Group Reviewed by Editor on 10/15/2014 Rating: 5
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