The Economist in a failing economy

Axios:

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.

Read more at Axios

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