Condé Nast Lays Off 100 Employees, Furloughs 100 More

Ryan Phillips
Conde Nast
Conde Nast /

Condé Nast has laid off about 100 U.S. employees and has furloughed 100 more for the next few months as the COVID-19 pandemic has impacted the media giant's business. CEO Roger Lynch announced the cuts in a staff memo on Wednesday. He had prepared employees for this scenario a month ago.

Condé Nast is a New York-based company and its properties include The New Yorker, Wired, GQ, Vogue and Vanity Fair. The company boasted about 6,000 employees worldwide at the start of the year.

While the layoffs are the big headline, Lynch also said the company was putting 100 on unpaid leave who "can't work effectively during this period." And some employees will have reduced work schedules.

The memo told employees, in part:

"“Through this crisis we’ve all gone through many states of emotion, personally and professionally, and I’m deeply saddened to have to write this note with the news that we’ll be saying goodbye to some of our U.S. colleagues.""

The company had previously cut pay to employees earning at least $100,000 a year and issued a 50 percent salary reduction for Lynch and other board members.

The coronavirus crisis continues to hit the media hard with scores of companies enacting reported and unreported reductions.