TUESDAY NEWS RUSH FEATURING CONDÉ NAST'S AUSTERITY PLAN

TUESDAY NEWS RUSH FEATURING CONDÉ NAST’S AUSTERITY PLAN

TUESDAY NEWS RUSH FEATURING CONDÉ NAST’S AUSTERITY PLAN

by CULTED
1 min

Tuesday NEWS RUSH Featuring Condé Nast’s Austerity Plan.

It’s CULTED bringing you your Tuesday morning NEWS RUSH.

First up, Helmut Lang has launched a graphic design t-shirt contest. The label took to social media over the weekend to invite creatives to draft up an “original Helmut Lang graphic, drawing or image”. The competition closes on April 20 and the winner will have their design printed on an actual tee.

Next up, Condé Nast has sent a memo to 6000 employees informing them of an austerity plan that includes furloughs, pay cuts and layoffs. Condé Nast CEO Roger J Lynch explained:

“It’s very likely our advertising clients, consumers and therefore our company will be operating under significant financial pressure for some time, as a result, we’ll need to go beyond the initial cost-savings measures we put in place.”

The pay of the senior management team will be hit with Anna Wintour taking a 20% pay cut.

In other news, street artist KAWS is releasing a series of limited edition prints, with proceeds going to a variety of charities. To kick things off KAWS is selling a print of the comic character Snoopy. It’s going for $1200 and proceeds will go to Free Arts NYC, a nonprofit that offers art and mentoring programs to young people.

That’s all for today.

It’s Sam with CULTED. Have a great Tuesday.

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