Condé Nast, publisher of Vogue, will cut 5% of its work force

The magazine giant Condé Nast will cut about 5 percent of its work force, backtracking on a much-ballyhooed plan to build up an in-house video studio to tap into Hollywood’s demand for film and TV ideas.

The layoffs will affect about 270 employees. Roger Lynch, the chief executive of Condé Nast, told workers in a note on Wednesday morning that the cuts were a response to digital advertising pressures, a decline in social media traffic and shifting audience behaviors, including a move to short-form video. He said the video business would be folded in with the editorial brands.

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