More Cuts at Condé Nast

Happy Friday.

Condé Nast is trimming its budget and as a result, layoffs have continued. WWD reports that the latest staffer to depart the company is Teen Vogue publisher and chief revenue officer Jason Wagenheim.

Wagenheim’s departure is part of a restructuring of Teen Vogue that puts the title under the watchful eye of Vogue editor and Condé artistic director Anna Wintour.

From now on, Vogue publisher Susan Plagemann will oversee Teen Vogue’s sales team and Teen Vogue’s editor Amy Astley will report to Wintour. The rumor is that Wagenheim was given the choice to stay on and report to Plageman or leave.

Remaining Teen Vogue staffers are now well aware that they could be next. The magazine hasn’t been performing well, and just last week, seven GQ staffers were pink slipped.

Unfortunately Condé is looking at all of its brands, so there will likely be more layoffs coming.