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Overworked and underpaid has its benefits for a slew of former Condé Nast interns, who will receive $700 to $1,900 each in a settlement announced today that totals $5.8 million. Approximately 7,500 former interns dating back to June 2007 will receive a cut, thanks to underappreciated apprentices such as Lauren Ballinger, one of the lead plaintiffs in the case, who toiled in W's fashion closet for $1 per hour.
In an internal email to staff, CEO Chuck Townsend said that settling the lawsuit "allows us to focus our time and resources on developing meaningful, new opportunities to support future up-and-coming talent." Although the publishing house shut down its coveted internship program in June of 2013, it sounds like opportunities may be in the pipeline for budding magazine editors—let's just hope they learn something more than how to steam a Lanvin dress this time around.
· Condé Nast Agrees to 5.8 mln Settlement [Reuters]
· Condé Nast is Laying Off Almost 80 Employees [Racked]
· Anna Wintour's New Office Looks Vaguely Terrifying [Racked NY]