The fashion and pop culture publication, Paper Magazine, has let its entire editorial staff go. According to reports, the legendary fashion and pop culture journal, established in 1984, fired its staff on Wednesday as a result of falling ad sales. The newspaper, which focuses on underground music, technology, and fashion, published eight editions annually and had a paid circulation of 125,000 in 2014. It also received more than 1.3 million unique visitors each month to its website.
It might be the end of an era for the magazine, according to AdWeek, which first reported the termination. Starting Friday, between 20 and 30 full-time employees, including writers and editors, will be affected by the Paper layoffs, the outlet said.
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Since its inception in 1984, the venerable publication has been deeply ingrained in New York’s downtown fashion and art scenes. The “Break the Internet” photoshoot with Kim Kardashian in 2014, which garnered approximately 16 million page views in a single week, is one of the viral covers that it is also to blame for. In its most recent cover, the popular artist Ice Spice is seen surrounded by a bed of diamonds. The news comes after a string of layoffs at Vice Media, which included the closure of Vice News Tonight, and the announcement last week that BuzzFeed News would be eliminating its entire newsroom.
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Paper, like many other publications, has recently struggled with money problems made worse by the pandemic. Tom Florio, the publisher, reportedly blamed the layoffs on dwindling ad revenue. Twenty to thirty employees were impacted, and editorial operations would end right away. According to reports, Justin Moran, who has served as editor-in-chief for less than a year, will stay on until the end of May. Paper is not permanently shutting down; rather, it is “seeking to cut costs as it looks towards alternative options to remain in operation,” like investment, reports say.
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Vox Media, which owns publications like New York Magazine, Vulture, The Verge, and Thrillist, said in January that it will fire 130 employees or around 7% of its whole workforce. Despite accounting for the bulk of Vice’s news division’s revenue last year, the company is also discontinuing its Vice World News brand, reports said.
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