Hearst Magazines, publisher of Cosmopolitan, Good Housekeeping and Esquire, has laid off nearly 200 employees — most of whom work at the company’s iconic headquarters in Midtown Manhattan.
The Writers Guild of America East (WGAE), the union that represents thousands of media professionals, told news site W42ST The total number of layoffs was 197 people – 67 of whom were members of the Hearst union bargaining unit.
The union also told W42ST that “the most affected employees are located at Hearst Tower” at 8th Avenue and 57th Street on Manhattan’s West Side.
Hearst Tower, standing approximately 600 feet and 46 floors high, is a Norman Foster-designed triangular glass skyscraper known for its sleek, eco-friendly layout.
The tower was constructed in 2006 over the original Hearst Magazines Building, the facade of which was designated a city landmark by the New York City Landmarks Preservation Commission in 1988.
Company President Debbie Chirichella sent a memo to employees last week announcing the layoffs.
“After a thorough review of our business, we have decided to reallocate resources to better support our goals and continue our focus on digital innovation while strengthening our best-in-class print products,” Chirichella wrote in the memo. Have decided.” Which was reported by The Hollywood Reporter.
“We will retreat in areas that do not support our core strategy and eliminate some positions as we re-imagine our team structures to drive long-term growth.”
Chirichella did not specify in the memo which departments or how many employees would be affected.
“These changes will enable us to take care of our business over the long term,” he wrote.
“We will prioritize the areas where we can make the biggest impact and drive growth and continue to focus on creating the highest quality storytelling, advertising solutions and digital experiences.”
“Today, Hearst’s persistently anti-union magazines It has become the latest media company to make unnecessary, irresponsible and cruel layoffs of editorial staff, WGAE Executive Director Sam Wheeler said in a statement Wednesday.
He said, “Until Hearst and the rest of the media industry recognize that employees are the most valuable part of their companies and brands, they will continue their race to the bottom with no one else to blame.”
The Post sought comment from Hearst.
Layoffs are the latest sign of this Danger in magazine and publishing industrya year ago, Hearst’s rival Condé Nast announced it planned It will cut 5% of its workforce – the equivalent of around 270 employees – in a move affecting publications including Vogue, Vanity Fair and GQ.
In January, Time magazine announced it was cutting 15% of its editorial staff.
Forbes, Sports Illustrated, Vice Media and BuzzFeed have also reduced headcount this year as the industry continues to grapple with declining advertising revenue, changing reader habits and competition from digital platforms.
