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Sunday, April 5, 2009

Playboy Closes New York Office over Global Financial Crisis

The New York offices of Playboy magazine will be closed effective of May 1, 2009 as the economic downturn continues to take its toll on the print publishing business in the US.

Some of the 100 employees of the New York office will be relocated while others will be given some options. Only a small number will remain in New York where Playboy has maintained its presence since the early 1990s.

The management decision to close shop is part of its cost-cutting measures to keep the business going under an uncertain economic situation, Digitaljournal.com commented.

It was earlier reported that Hugh Hefner, the Playboy founder is selling his family home in California for USD 28 M. The 83-year-old Hefner lives in his California mansion with three of his models.

As part of the Hefner's efforts to promote the magazine, he made available to the public via the Internet, 53 issues of Playboy magazine for free.

Playboy Closes New York Office over Global Financial Crisis


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