The Economist Group is laying off 90 roles from its staff of 1,300, sources tell Axios. Its life and culture print publication, 1843, will move to a digital-only publication. Sources say that the company’s editorial team hasn’t been impacted.
Why it matters: It’s the latest media company that’s been been forced to take drastic measures to survive the economic fallout of the coronavirus.
Details: The areas of the business affected by the cuts include events, client solutions business, and the company’s marketing communications agency TVC.
- 1843, which prints bi-monthly, will move to a digital-only format starting with the August/September issue and will be made available to Economist subscribers who have digital access.
- The company’s CEO, editor-in-chief, leadership team and board will take voluntary pay cuts.