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| Pay Cuts Come to Condé Nast, the Glossy Publisher of Vogue and Vanity Fair | Pay Cuts Come to Condé Nast, the Glossy Publisher of Vogue and Vanity Fair |
| (8 days later) | |
| Condé Nast, the most glittering of all magazine publishers, is the latest media casualty of the coronavirus pandemic. | Condé Nast, the most glittering of all magazine publishers, is the latest media casualty of the coronavirus pandemic. |
| Roger J. Lynch, the chief executive of the company behind Vogue, Vanity Fair and The New Yorker, sent a memo on Monday to 6,000 employees around the world to inform them of an austerity plan that includes pay cuts, furloughs and possible layoffs. | Roger J. Lynch, the chief executive of the company behind Vogue, Vanity Fair and The New Yorker, sent a memo on Monday to 6,000 employees around the world to inform them of an austerity plan that includes pay cuts, furloughs and possible layoffs. |
| “It’s very likely our advertising clients, consumers and therefore our company will be operating under significant financial pressure for some time,” Mr. Lynch said in the note. “As a result, we’ll need to go beyond the initial cost-savings measures we put in place to protect our business for the long term.” | “It’s very likely our advertising clients, consumers and therefore our company will be operating under significant financial pressure for some time,” Mr. Lynch said in the note. “As a result, we’ll need to go beyond the initial cost-savings measures we put in place to protect our business for the long term.” |
| The salaries of those earning $100,000 or more — just under half the company — will be reduced by 10 to 20 percent for five months, starting in May, the memo said. The pay of executives in the senior management team, including Anna Wintour, the artistic director and Condé Nast’s best-known figurehead, will be cut 20 percent. | The salaries of those earning $100,000 or more — just under half the company — will be reduced by 10 to 20 percent for five months, starting in May, the memo said. The pay of executives in the senior management team, including Anna Wintour, the artistic director and Condé Nast’s best-known figurehead, will be cut 20 percent. |
| In addition, Mr. Lynch said that he would forgo half of his salary, and that board members who were not employees of Advance Publications (the holding company that owns Condé Nast), like Domenico De Sole, former chief executive of Gucci Group, would take a 50 percent reduction in their compensation. | In addition, Mr. Lynch said that he would forgo half of his salary, and that board members who were not employees of Advance Publications (the holding company that owns Condé Nast), like Domenico De Sole, former chief executive of Gucci Group, would take a 50 percent reduction in their compensation. |
| Mr. Lynch did not specify how many layoffs were under consideration. | Mr. Lynch did not specify how many layoffs were under consideration. |
| “While we consider it a last option, we do expect there will be some role eliminations as part of these efforts,” he said in the memo. | “While we consider it a last option, we do expect there will be some role eliminations as part of these efforts,” he said in the memo. |
| Those decisions are expected next month. In the meantime, the company has frozen hiring on hundreds of open positions. | Those decisions are expected next month. In the meantime, the company has frozen hiring on hundreds of open positions. |
| The company plans to start three- or four-day workweeks for some employees in markets such as Britain and the European Union, “in particular where government programs and stimulus packages can help supplement employees’ earnings,” Mr. Lynch wrote in the memo. | The company plans to start three- or four-day workweeks for some employees in markets such as Britain and the European Union, “in particular where government programs and stimulus packages can help supplement employees’ earnings,” Mr. Lynch wrote in the memo. |
| Condé Nast is not directly asking for government money, but is instead exploring the use of relief programs and stimulus packages in certain regions for furloughed or laid-off employees. The company plans to take advantage of the “partial activity” assistance programs in those parts of the world to make up for the lost salary of furloughed employees or those whose hours have been cut. | Condé Nast is not directly asking for government money, but is instead exploring the use of relief programs and stimulus packages in certain regions for furloughed or laid-off employees. The company plans to take advantage of the “partial activity” assistance programs in those parts of the world to make up for the lost salary of furloughed employees or those whose hours have been cut. |
| In 2019, Condé Nast united its American and international arms into a single entity. The company has operations in France, Italy, Germany and Spain, as well as in Asia, with half its employees based in the United States. | In 2019, Condé Nast united its American and international arms into a single entity. The company has operations in France, Italy, Germany and Spain, as well as in Asia, with half its employees based in the United States. |
| Condé Nast would be one of the first major publishers to take advantage of government programs set up to make funds available to people whose jobs have been affected by the pandemic. Those programs were designed to help companies avoid layoffs, and some of the programs require the employer to request funds. Requesting government assistance would be an unusual move for a company whose high-paid editors have enjoyed perks such as town cars and clothing allowances. It could also risk alienating readers, for whom the idea of a glossy magazine publisher requesting funds for certain employees may be anathema. | Condé Nast would be one of the first major publishers to take advantage of government programs set up to make funds available to people whose jobs have been affected by the pandemic. Those programs were designed to help companies avoid layoffs, and some of the programs require the employer to request funds. Requesting government assistance would be an unusual move for a company whose high-paid editors have enjoyed perks such as town cars and clothing allowances. It could also risk alienating readers, for whom the idea of a glossy magazine publisher requesting funds for certain employees may be anathema. |
| Updated July 7, 2020 | |
| The coronavirus can stay aloft for hours in tiny droplets in stagnant air, infecting people as they inhale, mounting scientific evidence suggests. This risk is highest in crowded indoor spaces with poor ventilation, and may help explain super-spreading events reported in meatpacking plants, churches and restaurants. It’s unclear how often the virus is spread via these tiny droplets, or aerosols, compared with larger droplets that are expelled when a sick person coughs or sneezes, or transmitted through contact with contaminated surfaces, said Linsey Marr, an aerosol expert at Virginia Tech. Aerosols are released even when a person without symptoms exhales, talks or sings, according to Dr. Marr and more than 200 other experts, who have outlined the evidence in an open letter to the World Health Organization. | |
| Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. | Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. |
| Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles. | Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles. |
| A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. | A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. |
| The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. | The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. |
| The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. | The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. |
| So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. | So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. |
| Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. | Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. |
| A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. | A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. |
| If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) | If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) |
| If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. | If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. |
| Recently, two of Condé Nast’s most prominent clients, the luxury groups LVMH Moët Hennessy Louis Vuitton and Kering, told furloughed employees that they would be part of the “partial activity” government programs in France. Both companies backpedaled after peers such as Chanel announced that they would bear the costs themselves, rather than tap into the public purse. | Recently, two of Condé Nast’s most prominent clients, the luxury groups LVMH Moët Hennessy Louis Vuitton and Kering, told furloughed employees that they would be part of the “partial activity” government programs in France. Both companies backpedaled after peers such as Chanel announced that they would bear the costs themselves, rather than tap into the public purse. |
| Magazines were on rocky ground before the coronavirus started spreading across the globe, and the industry is now in free fall. Luxury companies, who provide the ads that are the lifeblood of fashion and lifestyle publications, have cut or frozen their marketing budgets. At a time when more than 16 million Americans are newly out of work, people are turning away from fantasy purchases and saving up for necessities. | Magazines were on rocky ground before the coronavirus started spreading across the globe, and the industry is now in free fall. Luxury companies, who provide the ads that are the lifeblood of fashion and lifestyle publications, have cut or frozen their marketing budgets. At a time when more than 16 million Americans are newly out of work, people are turning away from fantasy purchases and saving up for necessities. |
| Condé Nast had already been re-evaluating its media strategy, refashioning itself to cater to an online audience attuned to Instagram and TikTok. It has sold off certain titles and turned once-mighty glossies like Glamour into digital-only enterprises. After the subscription success of The New Yorker, paywalls went up around Vanity Fair and Wired. Vogue has started to embrace digital publishing, though it is still highly dependent on advertising revenue. | Condé Nast had already been re-evaluating its media strategy, refashioning itself to cater to an online audience attuned to Instagram and TikTok. It has sold off certain titles and turned once-mighty glossies like Glamour into digital-only enterprises. After the subscription success of The New Yorker, paywalls went up around Vanity Fair and Wired. Vogue has started to embrace digital publishing, though it is still highly dependent on advertising revenue. |
| As a result, and after several years of losses, the company was on a pace to turn a profit this year. The pandemic has altered that trajectory, as it has for other publishers. | As a result, and after several years of losses, the company was on a pace to turn a profit this year. The pandemic has altered that trajectory, as it has for other publishers. |
| “We aren’t alone in needing to take actions like this,” Mr. Lynch said in the memo. “Companies around the world are all facing similar challenges and responding accordingly. But that doesn’t make this process any easier.” | “We aren’t alone in needing to take actions like this,” Mr. Lynch said in the memo. “Companies around the world are all facing similar challenges and responding accordingly. But that doesn’t make this process any easier.” |