Philadelphia Style mag marks Columbus Day with layoffs

Columbus Day was no holiday for the staff of

Philadelphia Style

magazine. Niche Media, the New York-based company that bought the magazine in February from

Dana Spain-Smith

's DLG Media, sent

» READ MORE: human-resource staffers to the mag's South Philly offices yesterday to lay off much of its editorial and creative staff

.

Niche, which also publishes magazines such as Gotham, Hamptons and Los Angeles Confidential, has said that it targets readers with household incomes of at least $250,000. Despite laying off workers yesterday, Niche's profits are up nearly 10 percent over last year, and the company just expanded its New York offices, sources tell us.

Niche CEO Jason Binn declined to discuss specifics of the layoffs yesterday or reveal how many positions were eliminated. "We've had to accelerate the realization of our operating efficiency," Binn said. And despite the layoffs, he added, the magazine will publish eight issues annually, up from six. He says that publisher John Colabelli and editor Sarah Schaffer will remain.

"They've added glamour and luxury and a stronger connection with the community," he said.