Reader's Digest Association to cut work force

Share this content:

Reader's Digest Association (RDA) plans to trim about 280 positions, or about 8% of its 3,500 member work force, and also will implement unpaid time off for remaining employees.

The Pleasantville, NY, company also is suspending its matching contributions to the US 401(k) retirement plan.

The company said it was making these moves to strengthen the company's financial performance in the face of the global economic downtown.

"We have announced a comprehensive 'Recession Plan,' which is our internal roadmap for dealing with the extraordinary effects of this recession on consumer spending,” said Mary Berner, RDA president and CEO, in a statement.

Berner said the company hopes most of the moves will be temporary.

The unpaid leave would occur over 2009 and 2010, with the intention of avoiding additional layoffs, the company said.

The company, with offices in 45 countries, publishes 92 magazines, including 50 editions of Reader's Digest, and operates 65 branded Web sites.


Next Article in Direct Mail

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above