Condé Nast’s ‘Portfolio’ plans to cut frequency, jobs

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New York—As a recession looms and ad pages fall, Condé Nast plans to scale back the frequency of Portfolio from 12 times a year to 10 times, according to various media reports. The magazine will also cut back on its companion Web site,

Jobs will reportedly be cut among both the print and online staffs. Portfolio’s ad pages dropped 11.1% in the third quarter compared with the same period last year, according to the Publishers Information Bureau. The magazine’s pages are up 38.5% year to date, however, compared with the same period last year. BusinessWeek (-13.9%) and Forbes (-26.2%) also showed declines in ad pages in the third quarter, but Fortune posted a 27.1% gain in pages.

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