Condé Nast preparing for 25% cost cutting

Condé Nast is inching closer to slashing costs at its magazines, as editors and publishers begin preparing their 2010 budgets following meetings with Chief Operating Officer John Bellando.

The actual cost-cutting could begin as early as mid to late October at some titles, according to several people with knowledge of the situation. The meetings with Mr. Bellando, which began last week and are continuing through this week, are aimed at reducing budgets at each of the company’s titles by an average of 25%, sources say.

via Condé Nast execs expected to cut 25% – Crain’s New York Business.