Meredith Cuts 60 Jobs

What You Should Have Read, June 6, 2008

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Meredith Cuts 60 Jobs

FOLIO: reports that Meredith Corporation will cut 60 jobs and is opting not to fill 60 open positions. Twenty of the layoffs come from its magazine business, according to a Meredith spokesperson. The layoffs are "very selective," according to the spokesperson, and include staffers in editorial, sales, production, digital imaging and other areas. Meredith attributes the cuts to soft retail sales, noting also that fiscal fourth quarter 2008 advertising revenues are down about 15% from the same quarter in 2007. The layoffs were announced as part of a release about the publisher's acquisition of Big Communications, a Ferndale, Michigan-based pharmaceutical and biotech marketing firm. Big Communications will operate as a division of Meredith Integrated Marketing, the company's custom marketing unit.
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