Incisive Media has become the latest B2B publisher to impose a jobs freeze across the group.
A memo to staff said there would be a recruitment freeze in place across the group ‘until further notice”.
Incisive chief executive officer James Hanbury said that to call it ‘a jobs freeze’was overstating the situation and that Incisive was simply looking to use new talent within the group before looking outside.
Hanbury said: ‘I have asked all of our managers to behave in the same way they always have when it comes to recruitment – to carefully consider whether a new hire is a nice-to-have, or a need-to-have.’
Hanbury said that the uncertain climate in the financial services industry was reason to remind management of the need for prudence.
‘With the uncertainties regarding any potential knock on effects of the ‘credit crunch’ on our clients in financial services, I have simply reminded our management to practice what we preach and to not allow any unnecessary cost to creep into the business.’
Incisive grew by a third with the acquisition of VNU in January, and then doubled again with this summer’s acquisition of ALM Media from Wasserstein in a $630m deal.
Incisive is the latest B2B publisher to restrict recruitment. In July, Reed Business Information announced a recruitment freeze for three months in response to what it called ‘challenging’trading conditions.