Poor Condé Nast's pockets have a huge hole in them and sad editors are working their stilettos off trying to keep their underpaid assistant jobs. If you're not familiar with the magic that is Condé Nast, they're the publishing company that makes all those magazines that you're too busy to read. Including: GQ, Vogue, Vanity Fair, Wired, and so forth. We all knew they were doing bad; but it seems like the infamous address 4 Times Square is turning into Poor Times Square. As stated in a recent New York Post article:
"They are having the worst year of any publisher," said one rival executive who once worked at Condé Nast and said the company's recent cuts of 5 percent each on expenses and staffing isn't enough.
"They are overstaffed and overpaid. They should have cut back 20 percent when they cut back five," this person said.
The company can barely give out subscriptions these days. They're trying everything along with slashing prices. They desperately need to keep their subscriptions up, so their circulation remains high for advertising sales. For instance, see this GQ offer, (so debbie):
I can live without the "made in China" messenger bag. Is any publication able to persevere through this doom and gloom? Yes, actually there is. "Only one magazine in its stable is showing a rise over a year ago: Golf World, a small circulation weekly, that is up 16.5 percent through the Feb. 23 issue." said the NY Post article.
Does that mean put down the Vogue (which totally sucks these days anyways) and pick up Golf World?
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