Condé Nast publications will have to cut staffs and budgets each by 5 percent within weeks, the New York Observer reports. No titles are exempt, which means even Vogue will have to downsize. Horrors! Maybe Anna and her posse can stay at the Holiday Inn for Fashion Weeks in Europe? A scary thought, but Men's Vogue's situation is even more perilous. The Observer reports the Condé Nast bigwigs don't know what to do with Mogue, but folding the title is a possibility. Indeed Perez Hilton is reporting the title has already folded. But the Observer reports this could also happen:
One Condé Nast source said that it's likely that the magazine will scale back from publishing 10 issues a year to running only twice a year and it will give up its entire ad sales staff, with Vogue business staff handling the work.
"It'll be a small, small, small version of what it is," said a 4 Times Square source. "And the small version will exist for nothing more than for Anna [Wintour] to save face."
Anna is the editorial director of Mogue, which has been light on ad pages lately. Also, as we previously noted, most of the ads are for watches. We thought that was a good thing since we enjoyed ogling the sexy men in those watch ads so much. But according to a source at Condé Nast, having all your eggs in one ad basket is dangerous and not sustainable. Yeah, we would have liked to see more, oh, underwear ads.
We're awaiting confirmation from Condé Nast on the fate of the title.
Empty Nast Syndrome: Condé Nast Cutting Five Percent of All Magazine Staffs; Future of Men's Vogue In Doubt [NYO]
Another One Bites The Dust! [Perez Hilton]
Related: Check Out These Hot Men in Watch Ads
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