Martha Stewart cuts 100 employees
Included in the downsizing were some of the company’s upper-level executives, including executive vice president Daniel Taitz, who had served as acting CEO before Dienst was appointed Oct. 29.
Chief Revenue Officer Joe Lagani; Martha Stewart Living Publisher Peter Medwid; Vice President of Integrated Sales Laura Petasnick; and head of digital sales Jess Hollander.
Adweek reported Thursday on the cuts, writing that one MSLO employee said the office atmosphere was awful. "It’s really scary and terrible right before the holidays.”
Advertisingwise, Martha Stewart Living had an up year, with full-year ad pages rising nearly 16 percent over 2012. Circulation was flat in the first half of 2013, and newsstand sales dropped 13 percent. The magazine unveiled a well-received redesign in July in hopes of boosting those numbers.