As a seasoned media enthusiast who has witnessed the evolution of the industry over the past few decades, it is always disheartening to see job losses at such iconic institutions as Condé Nast. Having followed their journey closely, I can’t help but feel a sense of nostalgia for the golden age of print journalism that these publications once represented.
Condé Nast is once again cutting its staff at a challenging moment for major media companies.
On Thursday, it was reported that layoffs were being implemented at the publishing behemoth, The Hollywood Reporter, and as of now, the exact number of employees to be let go is undisclosed. However, so far, the prized possession in Condé’s collection – The New Yorker – has remained unaffected by these changes.
THR has reached out to Condé Nast and the Condé Nast union for comment.
Under the leadership of CEO Roger Lynch, Condé has been undergoing substantial transformations. This year, Pitchfork was merged with GQ, and last year, the company made a considerable reduction in its workforce as it adjusted to the evolving media landscape.
In August, the company entered into a multi-year agreement with OpenAI, enabling content from publications such as Vogue, The New Yorker, Vanity Fair, and others to be utilized within OpenAI’s tools, including ChatGPT and SearchGPT prototypes that link directly to news websites. In a memo to staff, Lynch explained that this partnership aims to strengthen the company’s revenue after technology companies have significantly affected publishers’ ability to monetize content, particularly with traditional search. Lynch further stated that this collaboration allows the company to maintain and reinforce its commitment to journalism and creative projects.
In their groundbreaking initial labor agreement with a union that represents employees across numerous titles such as Vanity Fair, Vogue, GQ, Bon Appétit, Allure, Architectural Digest, Condé Nast Traveler, Epicurious, Glamour, Teen Vogue, and Self, Condé Nast has consented to maintain the current workforce without layoffs until July 31, 2024.
More to come.
Read More
- AI16Z PREDICTION. AI16Z cryptocurrency
- POL PREDICTION. POL cryptocurrency
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- SEN PREDICTION. SEN cryptocurrency
- Blockaid new dashboard to track Web3 activity and threats
- US States charges ahead to adopt Bitcoin Reserve Legislation
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Shiba Inu, Bonk, Pepe prices rebound: Beware of dead cat bounce
2024-12-06 01:25