Magazine publisher Meredith Corp. laid off 60 staffers and eliminated another 60 jobs currently unfilled positions, including around 20 from its 1,400-person broadcasting division.
According to Folio, a Meredith spokesperson said the layoffs are “very selective,” and included staffers in editorial, sales, production, digital imaging and other areas.
Meredith attributes the cuts to soft retail sales. Meanwhile, the publisher announced it acquired Big Communications, a Michigan-based pharmaceutical and biotech marketing firm, with the hopes of increasing non-advertising sources of revenue.