Condé Nast to impose pay cuts

Condé Nast, the most glittering of all magazine publishers, is the latest media casualty of the coronavirus pandemic.

Roger J. Lynch, chief executive of the company behind Vogue, Vanity Fair and The New Yorker, sent a memo Monday to 6,000 employees around the world to inform them of an austerity plan that includes pay cuts, furloughs and possible layoffs.

Those earning $100,000 or more — approximately just under half the company — will have salaries reduced by 10% to 20% for five months, starting in May, the memo said. Executives in the senior management team, including Anna Wintour, the artistic director and Condé Nast’s best-known figurehead, will have their pay cut by 20%.