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Condé Nast is about to undergo its first round of major layoffs since 2012: the Wall Street Journal writes that over the next two weeks, 70 to 80 employees will be let go, "primarily from the group that oversees ad sales." The paper explains that "the print advertising market has been tough so far this year," and adds that Condé has been "increasing its focus on digital ad sales and products."
The announcement might seem like a bit of a shock, considering ad sales and editorial content have a pretty tight relationship at Conde titles Vogue, Lucky, and Glamour. Other recent upheavals include the sale of Fairchild Fashion Media and Lucky.
· Condé Nast to Lay Off 70 to 80 Employees [WSJ]
· How Much Editorial Love Do Fashion Magazines Give Advertisers? [Racked]
· Condé Nast Takes $500 Million Loss on Fashion Media Sale [Racked]