Magazines
1st Dec 2023
In a Nutshell: Two large magazine publishers are cutting jobs to save money. Vox (which owns New York Magazine, Grub Street and NowThis) is laying off at least 4% of its workforce in a second round of cuts (it laid off 7% in January 2023). Meanwhile Condé Nast (which owns Vogue, Vanity Fair and New Yorker, to name a few) is laying off 5% of its workforce, which is more than 500 employees.
​
How to use this source: This article reignites the decades old ‘Print Media is Dead’ arguments and can be used in any magazines industry or online question about the future of the industry. You might conceivably bring in Curran and Seaton (power & control) or Hesmondhalgh (horizontal integration) into this discussion.
​
​
Key Information to include: The names of the magazines published by each Magazine Owner (Vox ownsNew York Magazine, Grub Street and NowThis; Condé Nast owns Vogue, Vanity Fair and New Yorker). The percentages cut (7% in first round by Vox, now 4% - that’s over 50 people in total in 2023); 5% by Condé Nast (which is over 300 people).