The New York-based publisher, which has instilled a hiring freeze, will slash about 80 jobs, equal to a decrease of about 2.5 percent of its 3,000-person workforce. Budgets across departments are also expected to get a haircut, with the worst-performing divisions and magazines getting cuts of up to 20 percent.
As part of that mandate, Condé is reducing the frequencies of most of its titles and will shutter Teen Vogue in print. Monthly titles Vanity Fair, Vogue, Wired and The New Yorker, which publishes weekly, will not see any frequency changes. Brides, which runs six times a year, will also continue at that publishing pace.
According to sources, GQ, Glamour, Allure and Architectural Digest will go from 12 issues to 11; Bon Appétit will go from 11 issues to 10, and W and Condé Nast Traveler will now have eight issues, down from 10. Teen Vogue, which had published five issues a year, will close its print edition.
As Condé has looked to reduce headcount and thin out heavy-salaried employees, editors in chief Keija Minor, of Brides; Graydon Carter, of Vanity Fair, and Cindi Leive, of Glamour, have all exited the company. Condé is still on the hunt for successors at Vanity Fair and Glamour, which will likely be revealed around the Thanksgiving holiday.