Condé Nast is once again cutting its staff at a challenging moment for major media companies.
Layoffs were underway on Thursday at the publishing giant, The Hollywood Reporter has learned, with the total number of cuts not yet clear. So far, the crown jewel in Condé’s portfolio — The New Yorker — has not been affected.
THR has reached out to Condé Nast and the Condé Nast union for comment.
Condé CEO Roger Lynch has been undertaking significant changes to the company. Earlier this year it folded Pitchfork into GQ, and a year ago the company cut hundreds of jobs as it sought to adapt to the new media environment.
In August, the company struck a multiyear deal with OpenAI, allowing stories from Vogue, The New Yorker, Vanity Fair and other title to be ingested for use in OpenAI tools like ChatGPT and a prototype of SearchGPT, which directly links to news sites. Lynch told staff in a memo that the deal would help shore up revenue after “many technology companies eroded publishers’ ability to monetize content, most recently with traditional search.” The deal would allow the company to “continue to protect and invest in our journalism and creative endeavors,” Lynch added.
More to come.