Hearst Magazines, publisher of Cosmopolitan, Good Housekeeping and Esquire, has laid off about 200 employees. Most work at the company's iconic headquarters in midtown Manhattan.
The Writers Guild of America East (WGAE) is a union that represents thousands of media professionals. He told the news site W42ST. The total number of layoffs reached 197 people, 67 of whom were members of the Hearst union's bargaining unit.
The union also told W42ST that “most of the affected workers are based at the Hearst Tower at 8th Avenue and 57th Street on Manhattan's West Side.”
At nearly 600 feet tall and 46 stories high, the Hearst Tower is a triangular glass skyscraper designed by Norman Foster and known for its sleek, environmentally friendly layout.
The tower was built in 2006 on top of the original Hearst Magazine Building, and its facade was designated a city landmark by the New York City Landmarks Preservation Commission in 1988.
The company's president, Debi Chirichella, circulated 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. The Hollywood Reporter reported.
“As we rethink our team structure to drive long-term growth, we plan to reduce areas and eliminate certain positions that do not support our core strategy.”
In his memo, Chirichella did not specify which departments or how many employees would be affected.
“These changes will enable us to remain in business for the long term,” she wrote.
“We remain focused on creating the highest quality storytelling, advertising solutions and digital experiences, prioritizing the areas where we can have the greatest impact and drive growth.”
“Today, Hearst Magazines, which has always been anti-union, becomes the latest media company to carry out unnecessary, irresponsible and cruel editorial firings,” said WGAE Executive Director Sam Wheeler. said in a statement Wednesday.
“Until Hearst and the rest of the media industry recognizes that their employees are the most valuable part of their companies and brands, they will continue to race to the bottom with no one to blame but themselves.” he added.
The Post has reached out to Hurst for comment.
The layoffs are the latest sign of crisis in the magazine and publishing industry. A year ago, Hearst rival Condé Nast announced plans to cut 5% of its workforce, equivalent to about 270 people, in a move that would affect publications such as Vogue, Vanity Fair and GQ. It was.
Time magazine announced in January that it would cut 15% of its editorial staff.
Forbes, Sports Illustrated, Vice Media and BuzzFeed also cut jobs this year as the industry continues to suffer from declining advertising revenues, changing reader habits and competition from digital platforms.
