New York--In yet another sign of the struggles facing trade publishers of all stripes, VNU Business Media, a subsidiary of Dutch publishing giant VNU Communications Inc., has cut 5% of its work force. The bulk of the cuts have come from the closing of its VNU Expositions office in Dallas, where 109 people worked.Another 67 staffers were let go on Monday throughout VNU Business Media, including several who worked in the Media and Marketing Group. The group includes AdWeek, MediaWeek, BrandWeek, Editor & Publisher, AdWeek Technology Marketing, Sales and Marketing Management
Several other staffers were also let go with the shuttering of Retail Tech
and the merging of Progressive Grocer
and Supermarket Business.
VNU is still apparently reeling from consolidating the properties of Miller Freeman USA, which VNU purchased in 2000 for $650 million. Mike Marchesano, president-CEO of VNU Business Media, said in a statement: "VNU Business Publications faces unprecedented market conditions affecting the publishing industry. In order to deliver the strongest shareholder value we need to evaluate each publication and make business decisions based on profitability." http://www.vnuusa.com