10% Cuts At The New Yorker, Vanity Fair, Wired, Glamour, and down the line.
NYO reports:
The plan is not just a five percent overall spending reduction but rather two distinct five-percent cuts for each title, guaranteeing that titles cannot meet the goal without cutting staff.
First, each book will have to cut five percent of its payroll. They can do this through laying off staff or eliminating open and unfilled positions or a combination of the two.
Second, each book will have to cut five percent from its non-payroll budget lines: travel and expenses, meals, freelancers, etc.
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