/9918578/Banner

/9918578/Banner_2

/9918578/Mid

section

articleId

product

orgType

parrefer

accountID

Consulting

Banking

Accounting

Fintech

Internships

Rankings

Internship Rankings

Intern Resource Center

Explore Internships

Vault Law Home

Practice Area Resource Centers

Regional Resource Centers

Summer Program Resource Center

Vault Law Culture & Inclusion Survey

Vault Law

Guides

Events

Financial Services

Technology

Grad School

Work Relationships

Productivity

Diversity, Equity & Inclusion

Social Impact

Remote Work

Negotiating

Changing Jobs

Workplace Issues

Blog

Resume Samples

Cover Letter Samples

Interview Tips & Questions

A Day in the Life

International

Career Readiness

Explore Professions

Research Industries

Search Companies

Career Advice

Employers

Schools

&lt;p&gt;For a company that fights tooth and nail to keep its face behind the iron curtain, McKinsey has certainly been having its fair share of headlines recently. Today, the firm made the front page with the news that Cond&#233; Nast had heeded its advice, and will soon shutter four of its titles, perhaps the largest (and most surprising) of which is food enthusiasts&#39; beloved &lt;i&gt;Gourmet&lt;/i&gt;. The other magazines soon to sign off are &lt;i&gt;Cookie&lt;/i&gt;, &lt;i&gt;Modern Bride&lt;/i&gt; and &lt;i&gt;Elegant Bride&lt;/i&gt;, in addition to the corporation laying off about 180 staff. These cuts are part of McKinsey&#39;s grand plan for the magazine giant to reduce expenses by 20-25 percent in an attempt to cope with the much-diminished flow of advertisements. &lt;p&gt;&lt;p&gt;McKinsey must have made a real impression at Cond&#233; Nast; the publisher has never been quick to stop producing titles, and over the past year, as revenue has dwindled, it has resorted to cuts primarily at its newer publications, leaving its more entrenched titles alone. Regarding the closures, Cond&#233; Nast CEO Chuck Townsend said, &quot;We&#39;ve been working with those titles in addition to others titles to maximize their financial health in this economy. And unfortunately, these titles just fall below the line. We can&#39;t sustain them.&quot; Maybe so, but the news on &lt;i&gt;Gourmet&lt;/i&gt; certainly caught many by surprise; bets were on CN&#39;s second food title—&lt;i&gt;Bon App&#233;tit&lt;/i&gt;—as the publication more likely to be disbanded. &lt;p&gt;

Vault Consulting Editors

Article

Consulting Interview Prep: What MECE Is and How to Use It Effectively

Consulting Interview Prep: Good vs. Bad Answers to Top Questions

Consulting Interview Prep: How to Master the Consultant Mindset

How Consulting Firms Use Assessment Games to Evaluate Candidates

The Library