'PAPER' Magazine Goes on Hiatus

The coronavirus pandemic also incited some layoffs.

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Fashion 
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PAPER, perhaps most famous for “breaking the internet” with Kim Kardashian in 2014, has placed its physical magazine on temporary hiatus. In light of the coronavirus pandemic, the ENTtech Media-owned company is also slightly downsizing, WWD reports.

The final — for now — issue of PAPER is the quarterly magazine’s Spring 2020 edition, which features Lady Gaga on its cover. Its website remains as active as ever, but ENTtech CEO and founder Tom Florio confirmed to WWD that the physical PAPER publication has been halted and that it may not return, though nothing is set in stone.

“I don’t know how you make a decision on that right now when we don’t know when we’ll be in the studio,” Florio told WWD. “Part of me is open enough to allow this thing to really roll out digitally and socially in the way where most people know Paper. Most people know Paper — like the kids, the Gen Z — through this social engagement. [Layoffs are] so terrible. I’ve never been in a situation where you couldn’t ask more from people, but because of crazy life circumstances you have to make these decisions.”

ENTtech and PAPER each laid off two staff members, but Florio emphasized that the company’s income is stable enough to allow it to survive the current pandemic for the foreseeable future. Cost-saving cuts — include a 60 percent salary reduction for Florio himself — have helped soften the blow.

Few companies are safe from the pandemic’s effects, with Wendy’s, Lyft and Neiman Marcus all reporting various downturns in fortune.

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Wwd

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