Particle.news

Download on the App Store

Condé Nast to Lay Off 5% of Staff in Cost-Reducing Initiative Amid Changing Media Landscape

Over 300 roles to be eliminated, along with office consolidations and project restructuring, despite expected third straight year of overall revenue growth.

  • Condé Nast, the media and publishing company, is set to lay off more than 300 employees, approximately 5% of its total workforce.
  • The company is taking this step in a bid to reduce costs and enhance efficiency, with CEO Roger Lynch emphasizing the need for change in response to shifts in technology, audience demands, and advertiser expectations.
  • Apart from layoffs, Condé Nast is also planning to consolidate its office spaces and re-phase certain long-term projects.
  • Despite the cuts, the company is expecting its third straight year of overall revenue growth, largely driven by successful strategies such as e-commerce and digital subscriptions, which have more than doubled in the current year.
  • Condé Nast is also planning to invest in areas within its control, including doubling its consumer revenue over the next five years, and is aiming for organic audience growth that will be monetized by its highly capable commercial revenue team.
Hero image