Weep, struggling members of the creative underclass, for your secret aspirations are drawing to a close: this may be the very last month of Conde Nast, Luxury Version. Coming soon: Conde Nast, Wailing Version.
Of course the creative underclass loves to hate on the creative overclass—embodied by Conde Nast—in public. But in private, everyone wants to get to Conde Nast. Or at least a Conde Nast expense account. Well, give up the dream, kids. The old folks got all that money already, and with 25% cuts coming down the pike, there's none left for you. Matthew Flamm says "The cuts could begin to take effect as early as mid- to late October and will continue into next year." Meaning if you haven't tasted the Conde bounty yet, you probably never will. At least not the way it should be. At least they're going out on an appropriately profligate note, sez the NYT:
For example, on Oct. 13, the men's magazine GQ will host a party in Washington to promote its list of powerful capital players, to appear in its November issue. The party is upscale: it will be held at the 701 Restaurant, known for its caviar and live piano music.
That is not the only expense involved. Several editorial employees will travel from New York for the evening. And they received an e-mail message recently reminding them to limit their expenses for the night - to $1,000 a person.
Once that would have been sad for an entirely different reason. Now it's sad like how revolutionaries probably get a tiny bit sad when they rush into a dictator's big golden palace built on the blood of the people and tear it down, because hey, even they have to admit that it was a nice palace.
Coming over the next year, it's safe to assume: Lower kill fees, no free lunches, fewer freelancers, cheaper consultants, fewer towncars for the mastheads, more ads sold below rate card, layoffs, and a drastic reduction in that good old fashioned Conde Nast luxurious wastefulness.
And they won't be hiring you. Or us.
[Except maybe at the unscathed New Yorker? No, they won't either. Pic: Getty.]