7 Min Read |

TheΒ global pandemic poses as a significant threat to publishing houses like CondΓ© 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 CondΓ© 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 CondΓ© Nast and Hearst in a difficult position.

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Updated December 2022

 

by Richard McKeon