Mansueto Ventures, which publishes Fast Company and Inc. magazines, is cutting 20 jobs in a broad cost-cutting effort. Both magazines have bucked the general downward trend in ad pages and ad revenue among business publications (Fast Company was up 31.4% in ad pages in the first half compared with the same period last year, according to Publishers Information Bureau). But Mansueto CEO John Koten isn’t taking any chances. “To ensure our best chance of getting through this rough time and continuing our positive momentum, we must take major steps now,” Koten wrote in a staff memo. In addition to the job cuts, Koten said he would merge Mansueto Digital into its two print departments and that sales and editorial staffers would handle both print and digital. Some perks were eliminated, too, such as tuition reimbursement and free snacks.
