Vibe is still under observation, but the prognosis got a little better. The rumor of it folding proved to be false, but not unwarranted.

Vibe magazine is cutting its paid circulation 25%, reducing its frequency to ten issues a year from twelve and merging its print and digital editorial operations, all in the magazine industry’s latest response to the twin attacks by recession and new media.

But Vibe is also departing from the standard playbook by introducing a twice-a-year newsstand-only celebrity tabloid. It plans to increase the subscription price for its flagship. And it is avoiding layoffs by adopting a four-day workweek accompanied by 10% to 15% pay cuts for its employees. The new day off, at least to start, will be Friday, though some staffing will be organized to keep the office open five days a week.

In the grand scheme of things this is a pretty good deal, since it’s better to be proactive than reactive in situations like this. The employees may be smarting at the reduced work week and pay cut, but it’s definitely better than the alternative: unemployment. My job is currently going through a similar situation and it sure did suck letting people go and having to do more with less. However, knowing that your job is actually trying to stay in business instead of waiting to turn over the closed sign and run off will be somewhat comforting to those who stick around. Also with them merging the print & digital operations, it should strengthen the skills of those involved. The web site and print mag should each improve in some way as people go across disciplines.

But in reality this akin to putting a bandage over a gash that needs stitches. The print industry overall is spiraling downward and Vibe is covering a industry that’s standing on it’s last leg as well. They can do all the restructuring they want, but ad revenue is still down (17.7% last year & 19.9% in 2007) and that will be the hardest thing to recover from. The advertisers are running away in droves and will be the last ones to come back, but only if things turn around. My suggestion to whoever makes the cut is ride this bitch until the wheels fall off. Keep your resume current and get your finances in order. Obviously, if a better job comes up take it, but making a lateral move to another publication that’s privately having the same problems isn’t the best move. That’s what I’m doing at least. Keeping my nose clean and flying under the radar. Sure you gotta work a little harder and you checks could reflect that better, but it beats pounding the pavement while living on unemployment.

Like Jeezy said “It’s a recession, everybody’s broke” so who’s hiring anyway?

Vibe Retrenches In Face Of Recession [Adage.com]

Previously Posted — Bad Vibes?

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