Meredith confirms around 100 layoffs ahead of earnings report release on Thursday
The Des Moines based media company Meredith Corporation laid off around 100 of its employees yesterday, hours before the company was to present its Q1 earnings on Thursday. The move is not totally unexpected, as the company has added around 600 new employees through a series of acquisitions including buying Shape from American Media early this year.
A Meredith spokesman told the Des Moines Register that the layoffs are spread throughout the organization. Meredith employed around 4,000 before the announced layoffs, with 900 in the Des Moines region.
In January the media company was able to report that it had raised the rate base for Allrecipes magazine to 1.1 million. Th magazine launched in November of 2013 with a rate base of 500,000.