Even as layoffs, pay cuts and indefinite furloughs become an almost daily occurrence in the media industry, news about such developments grows no less tragic and alarming. Such was the case Thursday morning, when Atlantic Media chairman David Bradley revealed in a staff memo that, despite gaining 160,000 new subscribers since launching a metered paywall last September, 68 employees at The Atlantic would be informed by 11:00 a.m. that they'd lost their jobs. The cuts, which represent 17% of the magazine's approximately 400 staffers, were made necessary by a decline in advertising and "the overnight and near-complete undoing of in-person events," Bradley said, while noting that those let go include sales and events staffers, but also writers, editors and those in marketing. Advertising aside, the impact of a pause on in-person events on the magazine's top line was certainly significant. In a normal year, The Atlantic produces more than 100 live events, which reportedly account for up to a quarter of its annual revenues and likely a larger share of its margins. Formerly profitable, The Atlantic sank into the red last year, insiders told The Wall Street Journal, after embarking on an aggressive expansion that included hiring about 100 additional employees under new owner Laurene Powell Jobs, whose Emerson Collective acquired a majority stake in the magazine in July 2017, investing a reported $100 million. While providing 16 weeks of severance pay to dismissed staffers is... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-05-21 16:30:08 UTC ]
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#full ownership
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#monthly traffic
#audience growth
Fnac, the leading French cultural products chain, will lay off 510 of its 17,000 staff and may... Continue reading at The Bookseller
[ The Bookseller | 2012-01-16 00:00:00 UTC ]
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#cut costs
A series of funding cuts to libraries in Somerset has been halted, after the High Court found... Continue reading at The Bookseller
[ The Bookseller | 2012-01-12 00:00:00 UTC ]
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#funding cuts
Independent Booksellers Week is to take place over the first week of July, with the Booksellers... Continue reading at The Bookseller
[ The Bookseller | 2012-01-10 00:00:00 UTC ]
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Atlantic publishing director Margaret Stead has bought a debut novel set in the TriBeCa district... Continue reading at The Bookseller
[ The Bookseller | 2012-01-09 00:00:00 UTC ]
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Liverpool is the latest city to suffer library cuts as the council announced three locations will... Continue reading at The Bookseller
[ The Bookseller | 2012-01-05 00:00:00 UTC ]
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Readers Digest Association has eliminated 150 positions across all of its business groups worldwide, with half the cuts affecting jobs in the U.S. and the other half international. Continue reading at Folio Magazine
[ Folio Magazine | 2011-12-16 00:00:00 UTC ]
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Publishers are planning to up their marketing campaigns over the crucial festive period,... Continue reading at The Bookseller
[ The Bookseller | 2011-12-16 00:00:00 UTC ]
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#marketing campaigns
Somerset County Council has confirmed it is reversing its library cuts programme following the... Continue reading at The Bookseller
[ The Bookseller | 2011-12-08 00:00:00 UTC ]
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Cambridge University Press' Cambridge Journals division has set up an article rental scheme... Continue reading at The Bookseller
[ The Bookseller | 2011-12-02 00:00:00 UTC ]
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Irish chain bookseller Eason looks likely to escape sizeable store closures following the... Continue reading at The Bookseller
[ The Bookseller | 2011-12-01 00:00:00 UTC ]
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#job losses
Booksellers are relying on a handful of established names to boost sales this Christmas, with... Continue reading at The Bookseller
[ The Bookseller | 2011-11-25 00:00:00 UTC ]
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Talks between Eason and Irish workers union Siptu on job cuts will reconvene on Friday (25th... Continue reading at The Bookseller
[ The Bookseller | 2011-11-24 00:00:00 UTC ]
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The Culture, Media and Sport select committee is to hold an inquiry into library closures. The... Continue reading at The Bookseller
[ The Bookseller | 2011-11-24 00:00:00 UTC ]
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Written By: Bookseller Staff Publication Date: Wed, 09/11/2011 - 09:15 Australias publishers have moved to compromise in the battle to protect their industry from parallel importing. According to a report from Inside Retail, the Book Industry Strategy Group (BISG) has made a recommendation to... Continue reading at The Bookseller
[ The Bookseller | 2011-11-09 00:00:00 UTC ]
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Written By: Tom Holman Publication Date: Tue, 08/11/2011 - 15:57 The books industry is not doing enough to attract and train staff to take advantage of the surge in ebook sales, this years Digital Book Census survey from The Bookseller has found. The survey of more than 2,200 people, nearly... Continue reading at The Bookseller
[ The Bookseller | 2011-11-08 00:00:00 UTC ]
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American Media, Inc. (AMI) and Michael Esposito, Senior Vice President of Operations and Digital Production, think they've hit upon a recipe that could work across the magazine industry for rationalizing print publishing costs and scaling up on digital platforms. Continue reading at Folio Magazine
[ Folio Magazine | 2011-11-03 00:00:00 UTC ]
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Amazon.com announced the launch of an ebook lending library for Kindle users, that allows Amazon Prime members to borrow books for free, as frequently as a book... Continue reading at PC World
[ PC World | 2011-11-03 00:00:00 UTC ]
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#amazon sets
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Written By: Charlotte Williams Publication Date: Fri, 28/10/2011 - 08:40 Kobo will move into publishing, its c.e.o. has announced, with plans to offer complete publishing services directly authors, Canadian CBC News reports. C.e.o. Michael Serbinis told the network that Kobo will roll out its... Continue reading at The Bookseller
[ The Bookseller | 2011-10-28 00:00:00 UTC ]
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#publishing arm