Troubles for Condé Nast: Publisher to Lay Off About 100 Employees, Furlough Another 100

The news comes a month after the publisher announced an initial round of pay cuts and furloughs

Condé Nast, the publisher of magazines like The New Yorker, Vogue and Vanity Fair, will lay off about 100 employees and furlough around another 100, according to a memo from CEO Roger Lynch sent out Wednesday.

The move comes a month after a first round of pay cuts and furloughs was announced in April to combat the financial impact of the coronavirus pandemic, which is ravaging digital media and publishing.

In the staff email, reviewed by TheWrap, Lynch said he was “deeply saddened” and noted he and other executives tried “hard to turn over every stone before having to make job reductions that would impact our teams” before deciding on the layoffs.

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SOURCE: The Wrap – Lindsey Ellefson