Condé Nast, the owner of Vogue magazine, is soon to cut five per cent job roles as per a statement by Roger Lynch, CEO, Condé Nast. The decision will impact 270 employees out of Condé Nast’s approximately 5,400-strong full-time workforce, globally.
Vogue, one of its flagship brands, is renowned for its fashion and style coverage, showcasing the latest trends and featuring high-profile celebrities.
The move comes as the company wishes to lower its overall expenses and thrive in a fiercely competitive digital media environment. Additionally, the company is also considering other cost-cutting measures, such as reducing office spaces and eliminating open positions, with the goal of reallocating resources for strategic growth. This was, communicated by Lynch in a memo to employees.
These job cuts will be implemented gradually over the next few months.
According to the company, its readers’ expectations are evolving along with the technology, and the only definite mistake is to resist this change.
Condé Nast is a prominent media conglomerate that owns Vogue magazine among various other iconic publications including Wired, The New Yorker, Glamour, Allure, Vanity Fair and more. Headquartered in New York City, Conde Nast has been a key player in the world of fashion, lifestyle and culture for decades.