View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Publishers
  2. Magazines
February 27, 2009

Natmag plans to make up to 15% of staff redundant

By Paul McNally

The National Magazine Company has announced it is looking to make about 15 per cent of its staff redundant in response to “unprecedented economic challenges to the business”.

The company, which publishes 17 monthly titles including Cosmpolitan, Esquire and Good Housekeeping, said the proposed cuts would affect “close to, but fewer than” 100 staff.

Natmag said in a statement that the cuts were designed to “ensure the business is in the right financial shape throughout 2009”.

As well as redundancies, the publisher will make further savings by cutting “operating expenses”.

Natmag chief executive Duncan Edwards said: “These are the worst conditions that we have faced in my 20 years at NatMag and the impact to the revenue side of our business is largely outside of our control,”

“We are therefore acting now to reduce the cost base of the business to enable us to get through this period in the best shape we can.

“It is a matter of enormous regret that we will be parting company with so many colleagues and we will do everything we can to minimise the redundancies and to ensure that those that do go are treated well.”

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

Natmag, which is a subsidiary of the US magazine giant Hearst, reported a 6.8 per cent decline in total circulation in the latest set of consumer magazine ABCs, covering the second half of 2008.

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network