Active Interest Media Cuts Staff by 10 Percent
Backpacker publisher attributes layoffs to print advertising losses.
Backpacker and Yoga Journal publisher Active Interest Media has laid off 23 employees, representing about 10 percent of its workforce.
The cuts, according to a spokesperson, were made across âmost divisionsâ and were ânon-revenue producingâ positions.
âWe have experienced a slowdown in print advertising revenue in the fourth quarter and we expect it to continue into 2009,â chairman and CEO Efrem âSkipâ Zimbalist wrote in an e-mail to FOLIO:. âWhile AIM is strong and profitable, we must keep costs and revenues in line in order to stay strong.Â We truly regret having to take these actions, as those who are leaving were real contributors to our success.â
Through the first nine months, Backpackerâs ad pages grew 5.4 percent compared to the same period last year, according to Publisherâs Information Bureau figures. Estimated ad revenue was up 10.1 percent to $20.1 million.
Other AIM titles, including Yoga Journal and Vegetarian Times, are not tracked by PIB.
Post Comment / Discuss This Story - Info/Rulesblog comments powered by Disqus