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CONDE NAST CUTS STAFF, WILL SUBLEASE SPACE

Parent Company Consolidates Four Units

By Published on .

NEW YORK (AdAge.com) -- Conde Nast Publications laid off nine of about 16 staffers in its database operations, including Vice President Steve Jacoby, who will stay to consult.

Also, Conde Nast parent Advance Publications is consolidating staff from four of its units (Fairchild Publications, Golf Digest Cos., CondeNet and Conde Nast International) that occupy more than three floors at 1440 Broadway into its other buildings.

Conde Nast staffers go to the company's 4 Times Square headquarters and Fairchild staffers go to Fairchild headquarters on 34th Street. CondeNet was the largest unit at 1440 Broadway, though a spokeswoman was unable to provide overall staffing levels.

Advance will "offer the space for sublease," said a spokeswoman. An executive familiar with the situation said the company spent about $6 million annually to rent the space in 1440 Broadway. The Advance spokeswoman declined comment on the rental cost.

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