S.I. Newhouse (Dan Brinzac)
Cutbacks started at Condé Nast late yesterday, with a least one corporate vice president and eight editorial staffers on Lucy Danziger’s Self magazine getting the ax.
The cutbacks are expected to continue today, with staffers from Glamour and GQ on the chopping block.
Susan Portnoy, Condé vice president media relations for digital and corporate communications, was among those let go, after nearly seven years at the company. She had been involved in coordinating the popular Fashion’s Night Out, spearheaded by Vogue Editor-in-Chief Anna Wintour.
In addition to the eight cuts on Danziger’s edit staff, insiders said at least three people on the business side of Self were let go.
Some magazines including the New Yorker and Vanity Fair, are expected to be spared staff reductions. Most of the brands, however, are abiding by a corporate edict to shave costs by up to 5 percent in 2013.
The cuts come after a midyear 10 percent budget cut that hadn’t yet been implemented.
“It’s really a 15 percent cut, since we never got that 10 percent reduction,” said one insider.