Meredith shuts down ReadyMade, lays off 75
Publishing and marketing company Meredith Corp. has closed the books on ReadyMade, a title that promoted do-it-yourself household tasks, and cut 75 jobs to save on operating expenses. Meredith acquired ReadyMade in 2006.
The cost-saving measures will save the company approximately $10 million, before taxes, according to Meredith.
The scaling down of operations follows the company's fiscal third quarter losses, announced in April.
Steve Lacy said the move would allow the company to develop digital resources. In March, Meredith launched iPad editions of its flagship brands, Better Homes and Gardens, Parents and Fitness.