After filing for Chapter 11 this August, Reader’s Digest Association has been working on a restructuring plan to get itself out of debt. Some of this has been the unfortunate (but par for course) shuttering of titles, like Rick Warren‘s ill-fated The Purpose Driven Connection magazine.
Yesterday, editor-in-chief Peggy Northrop mentioned at the ASME luncheon that the Reader’s Digest brand would never again launch a magazine that wasn’t able to perform across different media platforms. And today, RDA continues its attempts to get back in the black, and no it doesn’t involve firing staffers. It looks like the company will be moving its staffers from its offices in Pleasantville, N.Y.
As Keith Kelly reported this morning:
“Some of the 600 employees based in [Pleasantville] will be relocated to White Plains, N.Y. But executive offices and Reader’s Digest magazine’s editorial will move to space at 750 Third Avenue that was recently vacated by S.I. Newhouse’s Condé Nast Publications.
So some editorial staffers will be going to White Plains while the corporate headquarters and other editorial staffers move to NYC to share in the same building as Condé Nast. (FishbowlNY previously reported that The Economist is also moving into that building in the second quarter of next year.) While it’s always terrible to have to pick up your life and move elsewhere for a job, relocating to New York isn’t the worst thing to happen to a magazine staff in the last, oh say, 24 hours. In terms of restructuring, this is one of the more positive moves we’ve seen in awhile, which it should be obvious by the very un-restructuring phrase in CEO Mary Berner‘s letter to the staffers, “Some of you will be excited by this change…”
Berner’s full memo to RDA staffers after the jump.
Previously: Reader’s Digest Files For Ch. 11
Read More: Reader’s Digest moving to NYC –New York Post