Looks like pink is the new black over at Conde Nast.
The publishing company handed out pink slips at several different titles, eliminating 60 positions overall this week, WWD is reporting.
According to a memo sent out by CEO Charles Townsend, the layoffs were due to “the challenges of the U.S. economy,” and are part of next year’s business plan. The layoffs come after magazines were asked to reduce their annual budget by 10 percent.
Brides was the title worst hit, with five editorial and six business staffers cut loose. And talk about an employee’s worst nightmare–according to WWD some of the laid off edit staffers have not yet been informed of their new unemployed status since they are attending bridal shows this week. Eek. We hope no one from Brides is reading this right now. New editor-in-chief Keija Minor, who was hired only a month ago, will certainly have her work cut out for her now.
Another title hit hard was Self, with eight editorial and three business staffers getting eliminated. Condé Nast Traveler, GQ and Wired also lost people: According to WWD‘s sources, each magazine had one editorial staff position eliminated.
But the layoffs were not limited to the editorial and publishing side. Two positions were also eliminated at the corporate communications office, including one corporate vice president, Susan Portnoy. Portnoy was responsible for handling media relations for Fashion’s Night Out, and has been with the company for six years. While senior vice president, Patricia Steele, will take over much of Portnoy’s workload (fun for her!), it’s unclear who the FNO duties will fall to–corporate communications or Vogue.
Needless to say, 4 Times Square is probably not the most fun place to be right now.