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Have you not been following the news about them being reviewed by McKinsey consulting group for the past several months? Each magazine has been told to cut budgets by 25% - their business model has finally collapsed on them and it’s leaving staffers in it’s wake.
But I still can’t believe the havoc that’s being wreaked on the employees! Can’t run a business (or use any business model) when your staffers are scared shitless. But I’m no MBA. Maybe fear-tactics work.
Use common sense, you don’t need an MBA to understand what’s going on here.
It’s not an issue of fear tactics - it’s an issue of Conde not using every single wake up call they’ve had to fix problems until it got way too difficult to fix without bringing the best management consulting firm to come in and do it.
Havoc wreaked on employees? Is that serious? I have friends at Conde who have been scared, but no scared than ANYONE else in any other publishing/media/entertainment company, hell, no worse than any banks.
Also- the people who will likely most be on the chopping block are in ad sales and business sided positions, rather than editorial staff, which makes sense entirely. It’s easiest for a management company to come in and see what’s going wrong fiscally, point fingers on revenue, and get rid of weak ad sales people. It’s a position with high turnover rate anyway, because there’s such a visibly high level of accountability in ad sales (you have target numbers, you’re not hitting them, you’re out - it’s like that anywhere, even in better economies). Those have been the bulk of layoffs, save for the publications that folded. But come on, in this economy and with bridal stuff ALL over the Internet, did no one think that a company with three bridal magazines would be able to keep all of them? Gourmet is the only “surprising” folding, and i guess that’s more because of it’s historic nature. My contacts in Conde are, for the most part, not scared (or any more scared than anyone is in media nowadays), because of either the publications they’re at, or the departments they’re in within the publications.
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Have you not been following
Have you not been following the news about them being reviewed by McKinsey consulting group for the past several months? Each magazine has been told to cut budgets by 25% - their business model has finally collapsed on them and it’s leaving staffers in it’s wake.
It's been on my radar
But I still can’t believe the havoc that’s being wreaked on the employees! Can’t run a business (or use any business model) when your staffers are scared shitless. But I’m no MBA. Maybe fear-tactics work.
Use common sense, you
Use common sense, you don’t need an MBA to understand what’s going on here.
It’s not an issue of fear tactics - it’s an issue of Conde not using every single wake up call they’ve had to fix problems until it got way too difficult to fix without bringing the best management consulting firm to come in and do it.
Havoc wreaked on employees? Is that serious? I have friends at Conde who have been scared, but no scared than ANYONE else in any other publishing/media/entertainment company, hell, no worse than any banks.
Also- the people who will likely most be on the chopping block are in ad sales and business sided positions, rather than editorial staff, which makes sense entirely. It’s easiest for a management company to come in and see what’s going wrong fiscally, point fingers on revenue, and get rid of weak ad sales people. It’s a position with high turnover rate anyway, because there’s such a visibly high level of accountability in ad sales (you have target numbers, you’re not hitting them, you’re out - it’s like that anywhere, even in better economies). Those have been the bulk of layoffs, save for the publications that folded. But come on, in this economy and with bridal stuff ALL over the Internet, did no one think that a company with three bridal magazines would be able to keep all of them? Gourmet is the only “surprising” folding, and i guess that’s more because of it’s historic nature. My contacts in Conde are, for the most part, not scared (or any more scared than anyone is in media nowadays), because of either the publications they’re at, or the departments they’re in within the publications.