The New York Times reports that Meredith, publisher of Better Homes & Gardens and other garden pubs, is laying off 250 employees and closing Country Home magazine. If anybody’s got the scoop on whether any garden writers got the axe, drop us a line.
And here’s an interesting sidenote. The Times story says that those 250 employees represent 7% of their workforce. Our GardenRant math department tell us that this means that Meredith must employ over 3500 people. At first I thought, that can’t be right. But the article says that revenue is $370 million, which represents just over $100K in revenue per employee. (Not that everybody at Meredith would make that much; it’s just a handy ratio to figure.)
Or here’s another figure. Combined circulation of their 13 magazines and many special interest publications is 30 million. That works out to one reader for every twelve dollars in revenue. (not counting audiences for their books, websites, etc, but still…)
I have no conclusions to draw. It’s just idle commentary from the sidelines as the media churns through whatever it’s churning through. Interesting times….Posted by Garden Rant on January 8, 2009 at 8:55 pm, in the category Everybody's a Critic.