Condé Nast to announce layoffs after facing ‘terrible year’

Following what sources have called a “terrible year” in which Condé lost about $100 million, the publisher is poised to take a scalpel to its corporate side, which includes its digital business.

The company’s entertainment division, Condé Nast Entertainment, is also said to be under review. This follows a year of two steep rounds of layoffs in the ballpark of 200 jobs in total.

Insiders said slashing digital jobs in an environment where that sector is growing is indicative of broader turmoil. A rep from the company acknowledged impending job cuts, but said they were linked to the changing media landscape.

“Our goal is to modernise and align our corporate functions to best support our brands and the company’s changing needs,” she said, without commenting on the number of cuts to come.

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