McKinsey Readies Condé Nast Report

The axe is poised at Condé Nast, although it has not yet fallen. According to the New York Observer, the svelte, young, and attractive consultants from McKinsey are nearly ready to submit their final recommendations on the magazine powerhouse to Si Newhouse and CEO Chuck Townsend. During interviews, the consultants focused on job duplications, consolidations, and areas where corners could be cut. Gourmet and Bon Appetit are evidently candidates for reduced publishing schedules, while sources called Details the epitome of "a duplication of effort" thanks to its similarity to GQ. Staffers are also expecting budget cuts that could be as high as 20 to 25 percent, although it's unlikely that cuts will be applied uniformly across the board.