Variety's Staff Cut As Parent Slashes Costs Across Units.Cahners Publishing, the American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of publishing company of Amsterdam-based media giant Reed Elsevier Elsevier, the world's largest publisher of medical and scientific literature, forms part of the Reed Elsevier group. Based in Amsterdam, the company has substantial operations in the UK, USA and elsewhere. Inc. and publisher of the Hollywood Hollywood. 1 Community within the city of Los Angeles, S Calif., on the slopes of the Santa Monica Mts.; inc. 1903, consolidated with Los Angeles 1910. trade paper Variety, has laid off 140 employees, or about 3 percent of its U.S. workforce of 4,800. In a statement, the New York-based company said the cuts were made "to maintain profitability in response to U.S. economic conditions, and as part of a continuing commitment to lower its cost base." The cutbacks occurred in all business units and departments throughout the company's stable of publications, including those with offices in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Cahners spokeswoman Lisa Kitei declined to say how many employees had been laid off in Los Angeles. Variety officials said that none of the paper's 70 editorial employees were laid off, but that a number of employees from its business unit had been let go. Cahners is the nation's largest publisher of business-to-business  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. trade titles - its magazine holdings include Variety, Video Business, Trade Show Week, Publishers Weekly and Broadcasting and Cable. "As you know, we made aggressive attempts to reduce costs," said Marc Teren, Cahners president and chief executive, in an e-mail sent to employees on May 30 and obtained by the Business Journal. "However, even with these and other measures, the economy has become still more challenging and we must maintain our commitment to strike the appropriate balance between costs and revenue." Teren told employees that the company had tried to avoid layoffs by cutting discretionary spending, eliminating many open positions, and deferring capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. . Sandy Saka, Cahners office manager in Los Angeles, said the layoffs and cutbacks would not affect the company's expansion plans in Los Angeles. Cahners recently rented an additional 16,000 square feet of space in the Wilshire Courtyard For alternative meanings of the word "court", see: Court (disambiguation). A court or courtyard is an enclosed area, often a space enclosed by a building that is open to the sky. complex at 5700 Wilshire Blvd. The offices will be home to 50 employees and several Cahners publications, including LA 411 Publishing, MarketCast and the Ashley Group. In a statement, Teren said, "While always difficult, these reductions meet a commitment to improved profitability and leave us positioned for growth in our key markets." |
|
||||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion