Adage reports that Vibe's gonna cut their issues down to 10 issues year instead of 12 and introduces a twice-yearly tabloid issue only available on the newstands. In reaction to the economy, they have also moved to a 4-day week (though staff will overlap so they do stay open the whole five days. There's also pay cut of 10-15% cut in wages.
"Based on the financial climate and based on what's going on, we needed to make a tough decision," said Steve Aaron, CEO of Vibe Media Group. "We decided not to follow the old-school textbook of restructuring and instead look for ways to keep the talent in place." Employees were told of the changes in a meeting this afternoon.
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