Does this really come as any surprise? The ink is just barely dry on Hearst’s purchase of Hachette Filipacchi Media and already the pink slips are flying. According to the NY Post, Hearst began firing just under 20% of the HFM staff a mere day after completing its $919 million takeover of some 100 international titles from France’s Lagardére Group, including six HFM titles. About 25 people were let go immediately, including Carlos Lamadrid, chief revenue officer for Woman’s Day.
Philippe Guelton, HFM’s chief operating officer and executive vice president, will join ex-HFM CEO Steve Parr as a consultant to Hearst. Both are expected to be among the 75 or so people who will see their employment come to an end by year-end.
What comes as a surprise is that Hearst President David Carney fired most of the social media staff, headed by director Steve Goldner. Ouch. There has also been some shifting around of roles and demotions. We are keeping our fingers crossed for Glenda Bailey, EIC of Harper’s Bazaar. The Twitterverse was active yesterday with rumors that her days were numbered. Let’s hope they are just that…rumors. Yet usually, where there is smoke there is fire. We will just have to see how this plays out.