Conde Nast Layoffs Hit Media Group

NEW YORK (AdAge.com) -- Conde Nast is planning cuts as soon as this week to Richard Beckman's Conde Nast Media Group, which handles more than 80% of the company's revenue.

The group and Mr. Beckman, who has been its president since it was formed in 2004, take the lead on big corporate marketing programs and contracts with advertisers that buy across three or more Conde titles. The staff numbers about 135 people in departments including creative services, production, marketing and sales. Sales is seen as the safest department at the moment. Conde Nast magazines collected nearly $3.2 billion in ad revenue last year, according to Publishers Information Bureau figures based on openly quoted rates, of which 80% comprises $2.5 billion.

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