VOGUE Postpones Entry; Edipress Also in Difficulty

Long awaited magazine Vogue is postponing its entry on the Romanian market. If the initial date was 2010, it seems that date has been pushed back by another ten months. This is due to the financial crisis that seriously cuts advertising budgets. It looks like glossy magazines are the first ones to suffer these cuts. Although no employees have been laid off yet, Edi Presse (Elle, Viva etc) and Sanoma Hearst (Esquire, FHM etc) have drastically modified strategies, starting with office space reduction. Therefore some of the employees are the forced to work “from home”