Now that Hearst has finalized the deal to acquire Hachette Filipacchi Media, speculation has begun over what the takeover means for HFM employees. According to the New York Post’s Keith Kelly, at least 120 of Hachette’s 600 staffers will be laid off upon completion of the deal later this year. Several key members on the Hachette team have already made their exit from the company and will be taking up new roles elsewhere in the industry.
Condé Nast has tapped Elle executive director of integrated marketing Eric Johnson for the associate publisher of marketing position at Bon Appétit.
American Media Inc. has snagged three of Hachette’s leading production executives: VP of operations and digital systems Mike Esposito, director of supply management Mark Eisner, and production director Steve Romeo.
Although it seems evident that HFM is in downsizing mode, president and CEO Steve Parr is not about to sound the alarm.
We don’t comment on specific individuals out of respect for their privacy. However, we have not had a mass exodus of executives from HFMUS.”
With 102 magazines moving over from Hachette to Hearst, there will likely be plenty of more damage control in Parr’s future.