Martha Stewart Basically Kills Two Magazines, Lays Off 70 People

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It's a good thing? Photo: Rob Tannenbaum/The Martha Stewart Show

How's this for timing? Executives at Martha Stewart Living Omnimedia the company that puts out all things Martha announced this week that they'd lay off 70 people from its 600-person staff. Additionally, they'll kill the recipe-focused Everyday Food as a stand-alone magazine and instead wrap it into Martha Stewart Living. The company will also try to sell another of its magazines, health-heavy Whole Living, to someone else. The moves are expected to save the struggling company between $33 and $35 million per year. [Adweek, Daily Intel]