Dotdash Meredith, the publishing giant behind outlets like People and Entertainment Weekly, has laid off 53 people, according to a report by Axios on Thursday.
The cuts represent about 1.5% of Dotdash Meredith’s employees. Most of the cuts will affect workers associated with the print business, according to Axios, which has seen an email to employees from CEO Neil Vogel about the cuts.
“While we are extremely proud of our print products and our subscriber base is stable (or in some cases growing), the print advertising business remains a challenge,” Vogel wrote. “Today’s actions are a direct response to that.”
Vogel also reportedly noted that the company is “not closing any print magazines” and does not expect to do so in the near future.
As Axios noted, the cuts come at a time when “Dotdash has led the digitization and modernization of Meredith’s magazine brands by investing in new business efforts, such as e-commerce and licensing.” Part of that push has been to double down on its strongest brands, such as Food & Wine, Better Homes & Gardens, and People.
Dotdash Meredith did not immediately respond to TheWrap’s request for comment.
IAC, DDM’s parent company, bought a few dozen Meredith locations for $2.7 billion in 2021. In early 2023, Dotdash Meredith laid off 274 people, or about 7% of its staff at the time.
This news also comes a day after People magazine announced that John Krasinski is the newest hottest man alive.
A source