The New York Observer notes that Conde Naste is suffering from “Empty Naste Syndrome”….cute.
The Observer has learned that all Condé Nast publishers and editors have been told they have to cut their staffs by 5 percent and their budgets by 5 percent within weeks, according to five Condé Nast sources.
It will affect every title, including the company’s most successful: The New Yorker, Vanity Fair, Wired, Glamour and down the line. (NY Observer)
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