Iconic Paper magazine that ‘wrecked the internet’ with Kim Kardashian’s cover fires staff

Paper Magazine, made famous by its 2014 viral Kim Kardashian “break the internet” cover shoot, has fired all of its editors.

The employees of the iconic American fashion and pop culture publication, founded in 1984, were reportedly fired on Wednesday due to declining advertising revenues.

It’s the latest in a series of industry cuts, following a series of layoffs at Vice Media and last week’s announcement that BuzzFeed News has cut its entire newsroom.

According to Adweekstarting today, the layoffs will affect between 20 and 30 full-time employees, including writers and editors.

It is understood that editorial activities will cease immediately, but editor-in-chief Justin Moran will remain with the company until May, publishing unreleased projects.

Paper Magazine rose to fame with Kim Kardashian’s viral 2014 “break the internet” cover

The latest cover of the magazine features New York rapper Ice Spice surrounded by diamonds

The magazine’s publisher, Tom Florio, reportedly told staff the decision was based on a slump in advertising last year, the outlet reported.

The publisher itself is not shutting down, but instead is trying to cut costs by looking at alternative options to stay in business. A potential investor has reportedly expressed interest.

Editor-in-Chief Justin Moran wrote on Instagram: “Team Paper was fired today.

“It has been my greatest privilege and honor to lead the most talented group of people I know. And together make a magazine that we are all so proud of.

“I’m not sure what the future holds for myself, but in the meantime, we’ll be publishing our new unreleased projects in hard copy in the coming weeks.”

News editor Jade Gomez wrote on Twitter, “The cat is out of the bag. Our entire staff was fired.’

Gomez said Resident advisor: ‘It was a surprise but deep down I felt something was coming.’

The news came at a company-wide meeting on April 27 and was effective immediately, she said.

The New York-based pop culture magazine was founded in 1984 by journalists Kim Hastreiter and David Hershkovits.

The publication focuses on underground music, technology and fashion and had a paid circulation of 125,000 in 2014, eight editions per year and more than 1.3 million unique visitors per month on its website.

Hastreiter and Hershkovits reportedly sold their stake in the company in 2017 to the newly formed media group ENTtech Media Group, founded by Tom Florio – who had previously served as publishing director of Vogue, Teen Vogue, Bon Appetit and Conde Nast Traveler.

When the magazine released Kim Kardashian’s now-iconic photoshoot in 2014, in which the reality star posed completely nude, the article was viewed nearly 16 million times in a week.

The magazine’s latest cover, which came out April 12, features 23-year-old Bronx-born rapper Ice Spice.

The magazine was founded in 1984 by journalists David Hershkovits and Kim Hastreiter

Pete Davidson and Julia Fox posed for a Barbie-inspired shoot for the magazine in 2019

Comedian Pete Davidson pretended to be a Ken doll for New York-based magazine in 2019

Actor Amanda Bynes also appeared on the cover of a 2018 “break the internet” issue

Paper Magazine follows in the footsteps of other media organizations that have announced closures and budget cuts in recent weeks.

In addition to Paper and BuzzFeed, Business Insider is also making major budget cuts, reportedly laying off about 10 percent of its news division.

Vice Media said on Thursday it would cut more than 100 jobs and canceled the Vice News Tonight program.

DailyMail.com reached out to Paper’s publisher for comment.