The friend confided to People Magazine:
[Image via Instagram.]
Conde Nast is being hit hard!
PerezHilton.com has exclusively learned that the magazine publishers just announced to staffers at Men's Vogue that the magazine is folding.
Even more people out of work!
Update: Though they have fired most of their staff, Conde Nast has just announced that Men's Vogue will publish two issues per year.
Two words: Anna Wintour.