NEW YORK (NYTIMES) - Condé Nast, the most glittering of all the glossy magazine publishers, is the latest media casualty of the coronavirus pandemic.. Read more at straitstimes.com.
NEW YORK - Condé Nast, the most glittering of all the glossy magazine publishers, is the latest media casualty of the coronavirus pandemic.
The memo said the company also planned to seek government assistance in Britain and the European Union. Those earning US$100,000 or more - approximately just under half the company - will have their salaries reduced by 10 per cent to 20 per cent for five months, starting in May. Board members who are not employees of Advance Publications , like Mr Domenico De Sole, former chief executive of Gucci Group, will also have a 50 per cent reduction in their compensation.Those decisions are expected in May. In the meantime, the company has frozen hiring on hundreds of open positions.
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