Worth magazine, a magazine that focuses on issues of wealth management, investing, estate planning and "passion investments" like antiques and fine jewelry, is retooling its strategy. The parent company Sandow Media has cut its New York staff by 45 percent and plans to relaunch based out of Boca Raton, Florida. The company will also be producing six issues a year instead of 10. Reuters reports
that the general manager of Worth magazine, Alison Parks, had told them in January that there were no plans for layoffs but clearly the ongoing attrition of the financial services sector called for a change in strategy.
Worth has an estimated total readership of 250,000. Worth's bread and butter is financial advertising which has declined with the stock market. Sandow Media
also publishes New Beauty and the regional LUXE magazines. Those titles are said to be stronger than Worth which focuses primarily on the financial/investing sector.