The World: New York - Conde Nast staffers warned of more redundancies

Charles Townsend, the chief executive of Conde Nast, has warned employees that the company is set to cut more staff.

The publisher, which has a portfolio that includes Glamour and Vogue, has been proactive in trimming costs in recent months, shutting down the lifestyle magazine Domino in January.

But in a memo to all staff, Townsend announced that more cutbacks were "unavoidable", and that "these decisions involve all of us". He said: "We'll all have to do more with less and accept that some of the resources that were available to us in robust times will have to be scaled back."