Meredith Lays Off 60 Staffers
There are more layoffs in the troubled world of print media. Meredith Corp.’s announced it has laid off 60 people across the company’s various divisions. According to Meredith, the
staff cuts, equal to around 2% of the company’s 3,400 employees, were intended in part to eliminate redundancies between companies acquired by Meredith.
The women’s interest publisher and broadcaster noted that through these acquisitions, the company has also added or created around 300 jobs.
Some of Meredith’s more recent acquisitions include
AllRecipes.com, purchased from Reader’s Digest Association for $175 million in January 2012, Family Fun, acquired from Disney that same month, and Every Day with Rachael Ray,
acquired from RDA in October 2011.
Going a bit further back, since 2006, Meredith has also acquired a number of advertising and marketing agencies including O'Grady Meyers, Genex, New Media Strategies, Directive, Big Communications, and The Hyperfactory. In October 2011, Meredith also took a stake in Iris Worldwide, an international marketing agency based in London.
As noted, Meredith isn’t the only company announcing layoffs this week. The Star Ledger of Newark, New Jersey’s largest daily newspaper, announced that it is laying off 34 employees. Star Ledger owner Advance Publications is also laying off 12 employees at The Express-Times of Easton, PA, 11 employees at the South Jersey Times, and three employees from its weekly newspapers in western New Jersey.
Also this week, Reuters revealed that it is laying off an undisclosed number of people, including at least nine staffers from its editorial operations, according to a Newspaper Guild memo that circulated online.