Reader's Digest Association Cuts 150 Jobs Worldwide
Wednesday, 21 December 2011 - 3:34pm
eader’s Digest Association has eliminated 150 positions across all of its business groups worldwide, with half the cuts affecting jobs in the U.S. and the other half international. All of the affected employees have been notified and will leave the company by year’s end, according to a Reader’s Digest spokesperson.
The cuts are aligned with an effort to focus on the company’s “master brands,” including Reader’s Digest, Taste of Home and The Family Handyman, “that have the greatest potential to grow across multiple platforms and through new revenue streams, such as partnerships and licensing in markets around the world,” a Reader’s Digest spokesperson writes in an email to FOLIO:. “In tandem, we are evaluating existing businesses which are not strategic and/or profitable, reducing our cost structure and identifying operating efficiencies.”