Author:Whitney BauckPublish date:May 13, 2020The coronavirus-induced economic slowdown has already been hitting retailers hard, and the hiatus of publications like W Magazine have proven that the media isn't immune to the shocks, either. On Wednesday, another media titan revealed that it's being impacted: Condé Nast announced via a letter from CEO Roger Lynch that it is laying off nearly 100 employees.
Those steps, he went on to detail, would include "just under a hundred people" leaving the company, and "a similar number of people in roles that can't effectively work during this period being temporarily furloughed." A "handful" of people will also see their work hours reduced. Severance pay and "job placement resources" will be made available to laid-off employees, and furloughed team members will still have access to their healthcare benefits.
Very sad !
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Source: WSJ - 🏆 98. / 63 Read more »
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Source: WSJ - 🏆 98. / 63 Read more »
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