7 Min Read |
The global pandemic poses as a significant threat to publishing houses like Condé Nast and Hearst, which produce and distribute some of the most well known fashion and beauty magazines in the world. Recently, salaries and executive pay were cut at Condé Nast, and the business anticipates redundancies amongst of its 6,000 global workforce. Its biggest rival, Hearst Magazines, has yet to reveal it’s approach to the current challenges within the industry; however encountering trade union disputes, it has actually boosted employee benefits and given all employees a 1 percent pay increase. With retailers shut as well as sales collapsing, many brands and advertisers have cut their budgets, a significant source of income for publishers, putting both Condé Nast and Hearst in a difficult position.
A series of surveys by…
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Updated July 2021