The first wave of big changes have hit Condé Nast following its restructuring evaluation by consultants McKinsey & Company.
Effective today, Condé Nast’ is shuttering four magazines: Gourmet, Cookie, Elegant Bride and Modern Bride. Brides magazine will increase its frequency to monthly to “solidify its position” in the bridal magazine category.
Gourmet’s book publishing and television prgramming will be retained, the company said, and Gourmet recipes will continue to appear on Epicurious.com. Condé Nast also publishes Bon Appetit.
The news was announced this morning by CEO Chuck Townsend in a memo to staffers. “These changes, combined with cost and workforce reductions now underway throughout the company, will speed the recovery of our current businesses and enable us to pursue new ventures,” Townsend wrote. “In the coming weeks, we hope to announce initiatives to develop digital versions of our brands that will make use of new devices and distribution channels.”
A Condé Nast spokesperson declined to say how many layoffs were associated with the closings.
The affected titles had seen a rough first half in regard to advertising page losses, according to Publishers Information Bureau numbers. Through the first half, Gourmet saw ad pages tumble 46.1 percent, Cookie’s ad pages fell 19.5 percent, Elegant Bride’s fell 32.5 percent and Modern Bride saw pages decrease 21.5 percent.