Vibe Cuts Circulation & Payroll, Adds Celebrity Tabloid
Nat Ives at AdAge.com reports that Vibe magazine is "cutting its paid circulation 25%, reducing its frequency to 10 issues a year from 12, and merging its print and digital editorial operations" while "avoiding layoffs by adopting a four-day workweek accompanied by 10% to 15% pay cuts for its employees."
They're also "introducing a twice-a-year newsstand-only celebrity tabloid" and planning to "increase the subscription price" for the 10 issue edition of Vibe.
These are tough times and there will be more work for less pay but survival is a beautiful thing!
On that note, the beatings will continue until morale improves. End of memo.
"avoiding layoffs" by cutting salaries to the point where people have to quit to find work that can actually sustain them.
Posted by: Adam B | February 12, 2009 at 08:11 AM
And just what do you have against free will under capitalism?
The scary part of all this will come when the economy returns but the jobs and salaries stay the same. Many companies will use the recession to slash and burn and, if they survive, will maintain such harsh regimes after the rebound.
Assuming there is a rebound cause I think those stimulus funds are going to go quickly and create an even more deeply debt focused society which I thought was part of the problem in the first place.
Posted by: Clyde Smith | February 12, 2009 at 08:22 AM