New rounds of layoffs took place Thursday at Condé Nast and Vox Media, the latest cutbacks in the publishing sector as companies look to tighten their belts.
The job cuts at Condé Nast come after the company said earlier this month that it will lay off upwards of 300 employees, representing 5% of total headcount, and take other cost-reduction measures. Sources said that there were no layoffs at Vanity Fair, contrary to a post by Puck media reporter Dylan Byers who had written that VF was “being hit particularly hard.”
Condé Nast reps declined to comment. The New York-based company’s stable of brands includes the New Yorker, Vogue, Wired, Glamour, GQ, Condé Nast Traveler, Vanity Fair, Bon Appétit and Pitchfork.
Vox, whose properties include New York magazine, the Verge and Vox.com, is cutting about 4% of its workforce — its second round of layoffs this year, after reducing its headcount by 7% in January.
A spokesperson for Vox Media said the layoffs affect employees in a few groups, primarily in product, design, technology and analytics, Vox.com and animal-focused content brand The Dodo. “This reflects continued turmoil in advertising and the need to build even more loyal audience relationships given the increasing volatility of search and social platforms, among other factors,” the company rep said in a statement. “Vox Media has a culture of adapting in what has always been a dynamic industry to best serve our audiences in a financially sustainable way, and we will continue to do that.”
The Vox Media Union, affiliated with WGA East, said in a statement, that news of the layoffs “is especially devastating in the midst of the holiday season, and we are furious that management has short-sightedly opted to eliminate these essential roles.” The union said “some of our most vital reporters and video production team members, who are voices on key issues including climate change, policy and tech, have lost their jobs.” The Vox Media Union added, “Layoffs like these only deepen the instability and inequity that is rife within our industry, and make it harder for those of us who remain at Vox Media to do our jobs.”
Penske Media Corp., publisher of Variety, became Vox Media’s largest single shareholder earlier this year after PMC acquired a minority stake in the company. PMC invested $100 million in Vox Media for a 20% stake, the New York Times reported.