CondéNet cuts: Wired.com lays of 25% of staff
CondéNet, the online arm of publisher Condé Nast has today laid off staff across the board, with Wired.com taking a big hit.
According to reports, 25% of Wired.com’s San Francisco staff have been laid off, with the majority of layoffs coming from tech roles. 10% of the editorial staff have been cut.
According to Valleywag, also gone is Kourosh Karimkhany, the VP of corporate development for CondéNet and a man responsible for the acquisitions of Reddit and Ars Technica.
Peter Kafka at AllThingsD has an official statement from the company:
Visibility for 2009 is very limited and we are adjusting all costs to prepare for slower revenue growth. The adjustments are across the board and include staff restructuring and some reduction. Despite the current environment, CondéNet will end the year slightly up over 2007. These moves will put the company in a stronger position to handle a challenging year ahead and for the business to benefit when the economy and the ad market start to rebound.
The cuts don’t come as any surprise, with Condé Nast announcing a 5% cut across the board (online and offline) November 1.
Update: more from CNet
In an interview with CNET News, Evan Hansen, Wired.com’s editor in chief, said the company downsized to prepare for the economic downturn.
“Revenues are expected to be up year over year but not as much as we expected,” Hansen said. “We’re concerned about 2009 because visibility is murky. We’re taking steps to make sure we’re in good position.”
Hansen declined to discuss who was let go, but sources familiar with the situation said none of the publication’s staff writers was cut. This is only the latest reduction of editorial staffing for Wired.com’s publisher, Conde Nast.