The Media Industry’s Preexisting Conditions

In March and April—as the economic crisis linked to the spread of COVID-19, the disease caused by the new coronavirus, started to hammer the media industry—news organizations made cuts. Some of these involved layoffs; others, including furloughs and salary reductions, were billed as temporary, storm-weathering measures. At the time, such claims attracted skepticism. Last Wednesday, two major media companies which already made COVID-era cuts deepened them. Condé Nast, which moved to cut pay for higher-earning employees in April, laid off around a hundred staffers, and put roughly the same number on furlough.

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