Mags giant IPC in jobs freeze due to economic slowdown

Consumer magazine giant IPC Media has imposed a three month recruitment freeze in response to the current economic climate.

The temporary freeze began on 16 June and will last for three months.

A spokesperson told Press Gazette: “IPC can confirm that it has taken the precaution of introducing a temporary recruitment freeze, effective from 16 June for three months. This is a response to the prevailing economic climate.

“While no vacancies will be advertised externally during this period, there will be an internal process to advise vacancies, which will remain open to existing staff.”

IPC is owned by Time Inc, the publishing division of Time Warner, the world’s largest media organisation. Before Bauer bought Emap’s consumer arm earlier this year, it was the largest consumer publisher in the UK. The company employs over 2,200 people and publishes 80 magazines.

It is thought that IPC, which publishes men’s monthly Loaded and last year launched fashion weekly Look, is the first consumer publisher to impose a recruitment freeze in the current economic downturn.

In October last year B2B publisher Incisive Media imposed a job freeze across the group, with Incisive chief executive officer James Hanbury saying at the time that calling it ‘a jobs freeze’was overstating the situation and that Incisive was simply looking to use new talent within the group before looking outside.

Hanbury said in October that the uncertain climate in the financial services industry was reason to remind management of the need for prudence. ‘With the uncertainties regarding any potential knock on effects of the ‘credit crunch’ on our clients in financial services, I have simply reminded our management to practice what we preach and to not allow any unnecessary cost to creep into the business.’

In July last year fellow B2B publisher Reed Business Information also announced a recruitment freeze for three months in response to what it called ‘challenging’trading conditions.

Comments
No comments to display

Leave a Reply

Your email address will not be published. Required fields are marked *

3 × four =

CLOSE
CLOSE