Scroll down for updates to this story.
After a trying year for the media business, it appears that publications overseas aren't quite immune to the same circumstances that affected stateside titles like Self and Style.com. Over the weekend, WWD reported that Condé Nast Italia is set to close four of Vogue Italia's sister magazines, including L'Uomo Vogue, Vogue Bambini, Vogue Sposa and Vogue Gioiello. (A representative for Condé Nast Italia did not immediately respond to our request for comment.)
According to WWD, those being laid off across publications will receive a handsome severance package to the tune of 40 months' pay. While there is no information yet as to the number of employees immediately affected, WWD's industry sources also report that Condé Nast "will start cutting an employee each month."
Though Vogue Italia is focused on the women's market, its offshoot publications represent other distinct categories within European fashion: L'Uomo Vogue for menswear, Vogue Bambini for childrenswear, Vogue Sposa for bridal and Vogue Gioiello for jewelry. L'Uomo Vogue is by far the largest of the four, having launched in 1968 and growing to accrue a reported readership of 300,000; there's no word as to whether Vogue Italia will now encompass men's offerings, as well, in L'Uomo Vogue's place.
UPDATE, Aug. 3, 10:45 a.m.: Condé Nast Italia's editorial committee has issued a four-day strike, according to WWD. The company's plans to discontinue Vogue Italia's sister magazines, which are comprised of 14 journalists, will result in cutting up to 40 editorial jobs.
"From what we have seen so far, the cuts in the cost of editors only lead to the hiring of several external consultants and managing figures without the development of a long-term editorial strategy," said Condé Nast Italia’s journalist committee in an official statement provided for WWD. In addition, the committee is requesting a "serious strategy to relaunch its magazines" to avoid further layoffs among the editorial teams.