Long gone are the days of lavish clothing allowances, limo service and carte blanche on entertainment expenses for high-flying magazine industry employees. But some old habits are hard to kick, especially when you work at Condé Nast.
While the New York-based publisher is in the process of firing employees to cut costs, one exec is spending money like it’s growing on trees.
Sources at the publisher of Vogue and Vanity Fair whispered to On the Money that one exec charged $17,000 to the company last month — the bulk of which was spent on a weekend trip to the Oscars.
The princely sum helped pay for the greedy exec and her husband to jet first-class to the Vanity Fair Oscars party in Los Angeles. Other expenses included a five-star hotel, room service, hair and makeup and various memberships to executive networking events.
To keep up with the likes of Anna Wintour, the employee tapped Vanity Fair editors to pull gowns from designers so she could look the part at the star-studded A-list bash.
One mole whispered that the irony in all this is that the big spender has been cracking down on editors, publishers and execs at the company to limit their own town car expenses.
She’s been “chasing down” everyone to make sure they limit their expenses, an insider said, noting that the optics aren’t good given the spendthrift decree handed down by CEO Bob Sauerberg.
But that behavior apparently isn’t new for the exec in question. At her last job at a major media company — which was also going through cost-cutting — the exec’s lavish spending earned her the nickname “Marie Antoinette,” former co-workers buzzed.
Condé Nast declined to comment.
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