• by Ray Schultz , November 1, 2023

Condé Nast is cutting its staff by 5%, affecting 270 workers, Chief Executive Roger Lynch announced in an email to employees. 

The layoffs were due to digital advertising pressures, a decline in social media traffic and a move by the audience to short-form video, Lynch told The New York Times. 

He added that Condé Nast’s video business would be folded in with the individual editorial brands. 

The Times writes that “parts of Condé Nast Entertainment are on the chopping block” due to a slowdown in Hollywood development of properties from magazine content.   

In his email, Lynch stated that while “we can’t control platform algorithms or how A.I. may change search traffic, we believe our long-term success will be determined by growing the many areas that we can control, including subscriptions and e-commerce, where we directly own the relationship with our audience.”