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Illustration: Sarah Grillo/Axios

The Economist Group is laying off 90 roles from its staff of 1,300, sources tell Axios. Its life and culture print publication, 1843, will move to a digital-only publication. Sources say that the company's editorial team hasn't been impacted.

Why it matters: It's the latest media company that's been been forced to take drastic measures to survive the economic fallout of the coronavirus.

Details: The areas of the business affected by the cuts include events, client solutions business, and the company's marketing communications agency TVC.

  • 1843, which prints bi-monthly, will move to a digital-only format starting with the August/September issue and will be made available to  Economist subscribers who have digital access.
  • The company's CEO, editor-in-chief, leadership team and board will take voluntary pay cuts.

What they're saying: "We have made the difficult decision to restructure and reduce roles in the parts of our business most affected by covid-19," The Economist Group said in an official statement.   

  • Each one of our departing colleagues has been instrumental in helping us build the business we have today and leaves with our heartfelt thanks and our promise to build on the legacy they leave behind."

The big picture: The pandemic is forcing dozens of major media companies, including newer, digitally-native media companies, to carry out layoffs and pay cuts.

  • The Economist Group joins The Hollywood Reporter, Fortune, Billboard, Group Nine Media, BuzzFeed, Vox Media, Bustle Digital Group, Cheddar, Maven Media, G/O Media, Protocol and others who have resorted to layoffs and furloughs.

Go deeper

Twitter to label state-affiliated media accounts

Photo Illustration: Omar Marques/SOPA Images/LightRocket via Getty Images

Twitter will begin labeling accounts belonging to state-affiliated media outlets from countries on the U.N. Security Council, it announced Thursday.

The big picture: The new policy will affect “outlets where the state exercises control over editorial content” in China, France, Russia, the U.K., and the U.S., according to the announcement.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Ipsos poll: COVID trick-or-treat — Study: Trump campaign rallies likely led to over 700 COVID-related deaths.
  2. World: Boris Johnson announces month-long COVID-19 lockdown in England — Greece tightens coronavirus restrictions as Europe cases spike — Austria reimposes coronavirus lockdowns amid surge of infections.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Technology: Fully at-home rapid COVID test to move forward.
  5. States: New York rolls out new testing requirements for visitors.
4 hours ago - Health

Boris Johnson announces month-long COVID-19 lockdown in England

Prime Minsiter Boris Johnson. Photo: NurPhoto / Getty Images

A new national lockdown will be imposed in England, Prime Minister Boris Johnson announced Saturday, as the number of COVID-19 cases in the country topped 1 million.

Details: Starting Thursday, people in England must stay at home, and bars and restaurants will close, except for takeout and deliveries. All non-essential retail will also be shuttered. Different households will be banned from mixing indoors. International travel, unless for business purposes, will be banned. The new measures will last through at least December 2.