"Reddit's IPO Windfall Raises Uncomfortable Questions for Investors"
Advance Publications, the parent company of Condé Nast, made a $2.1 billion windfall from Reddit's IPO, raising questions about potential layoffs at Condé Nast amidst the financial gain. The company has faced a sustained downturn in digital advertising and tensions with its union, prompting concerns about the optics of layoffs while reaping billions from the IPO. The situation has sparked renewed protests and contract negotiations with the union, as employees call for investment in job security.
