Hearst offers buyouts to all staffers in magazine sales and marketing

Hearst Magazines, which has mostly avoided layoffs since the pandemic began, said Thursday it will offer voluntary buyouts to all its sales and marketing employees as well as the iCrossing digital ad agency in the US.

The publisher of Cosmopolitan, Esquire and Harper’s Bazaar did not reveal how many buyouts it seeks, but warned if it does not get enough volunteers, it may impose involuntary cuts in a matter of weeks. “While our goal is to solicit enough volunteers, it is possible that involuntary departures may occur later this spring,” Hearst Magazines president Debi Chirichella said in a memo to employees. “If this happens, I want to assure you that this process will be done with compassion and respect for all.”