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Conde Nast Closing 'Portfolio'
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Jan 10 2008 12:00am EDT
Conde Throws the Switch on Flip
Flip.com, Conde Nast's social networking site for teenage girls, is changing directions after a not-so-successful launch.
The site is being "reshaped as a flexible web application designed to live on social networking platforms, starting with Facebook," the company (which is Portfolio's parent) just announced.
Among other things, that means it won't be needing an editorial staff anymore. Staffers were told they'll have their current jobs through March 3, says a source.
A Conde Nast spokeswoman says there won't be "massive layoffs," as there are many open positions within CondeNet, the company's web division. "A large proportion of the staff will be reassigned."
