McKinsey to Condé: 25 percent-ish

The New York Observer reports today that initial recommendations from McKinsey & Co., hired to help streamline costs at Condé Nast, are in.

According to the Observer, a handful of titles at 4 Times Square are being asked to cut “25 percent-ish” of costs, however they see fit, and employees are whispering about layoffs. No titles are slated for the chopping block, though, and the New Yorker, has been exempted altogether from McKinsey’s steely gaze.

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Alexandra Fenwick is an assistant editor at CJR.