Dotdash Meredith Cuts 7% Of Staff At People And InStyle

(CTN News) – On Thursday, Dotdash Meredith, a publishing giant that owns publications like People, InStyle and Better Homes & Gardens, announced it would eliminate 7 percent of its staff.

This makes it the latest company to lay off workers in the media and technology sectors.

According to Neil Vogel, chief executive officer of the company, the cuts will impact 274 employees, he announced in a companywide email on Thursday morning.

In order to ensure the well-being of the people affected, he said that HR and business leaders would schedule meetings with those affected.

According to his email, which was seen by The New York Times, he wrote, “as we have already mentioned, we are not immune to the broader challenges that face the advertising industry as well as the economy as a whole, and today’s actions reflect this reality directly,” he said.

The cuts affected nearly every department at Dotdash Meredith, according to a spokeswoman for the company.

IAC is owned by Barry Diller and it has a subsidiary called Dotdash Meredith, which specializes in digital outlets such as Serious Eats and Investopedia.

The company acquired Dotdash Meredith for about $2.7 billion in 2021 from Dotdash Meredith parent company.

A number of lifestyle and entertainment brands that are part of the combined company, one of the largest digital publishers, include Entertainment Weekly, Martha Stewart and Food & Wine. This is just to name a few.

As a result of the merger, Dotdash Meredith has retired the print editions of several of its magazines, such as InStyle and Entertainment Weekly. Instead, it is focusing on their digital editions.

According to Mr. Vogel in his e-mail to me, “like many businesses in our sector, we have grown aggressively over the last few years, and we have also successfully integrated our two companies,” he stated. “

As we face a difficult economic environment and uncertain market environment, we have to prioritize our largest opportunities and make sure that we have the right cost structure in place to be able to pursue them to the fullest extent possible.”

It was first reported by Axios that layoffs were taking place.

In the last few months, tech giants like Amazon, Meta and Twitter have laid off thousands of employees. Layoffs have also been announced by media companies such as The Washington Post, Gannett.

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