The job cuts came mainly from the print side of the business, which has suffered in the recession, Gumas said.
“We believe the change in print advertising is not just a short-term issue,” he said. “It appears that there has been a structural change, a demand change that’s going to be persistent.”
Gumas said Questex has been readying itself for this change. “We have a pretty significant digital business and also a strong events business; and the print business represents a little bit less than 30% of the total business,” he said.
In other news, Questex announced that it has selected Verified Audit Circulation as its new audience auditor. Questex, whose properties previously were audited by BPA Worldwide, said the rise of the Internet has changed the way marketers measure audiences.
“It is imperative that we begin to measure cross-platform reach so that we can offer the audience insights our marketing clients need to optimize their media plans,” Tony D’Avino, exec VP of Questex, said in a statement. “Even before the economic turmoil began, our customers’ focus was shifting from mass reach to audience value—ultimately measured by results, not circulation statements that show print issue receivership.”
Questex said its new integrated audit statement will present demographics and reach separately for each brand’s media channels including print and digital editions, events, Web sites, e-newsletters and supplements.