Back in April, Condé Nast settled the unpaid intern class action lawsuit that former W Magazine intern, Lauren Ballinger and former New Yorker intern, Matthew Leib had filed against the publishing giant. However, the negotiations for the actual terms of the settlement have been ongoing.
Finally, it seems that the negotiations have concluded and Condé Nast has agreed to $5.8 million to 7,500 former interns with amounts ranging from $700 to $1,900. This class action suit is what Condé Nast to temporarily terminate their internship program last year, which was a shock heard around the world as Condé Nast internships are the most coveted in the fashion industry.
CEO Chuck Townsend was quoted as saying that this settlement “is the right business decision for Condé Nast, as it allows us to focus our time and resources on developing meaningful, new opportunities to support future up-and-coming talent.”
And, so the Condé Nast unpaid internship legal battle comes to an end, and the publishing giant will perhaps start a new internship program to go with their new digs at One World Trade Center!