One advantage of blogging for a big-time publication: You can turn your pink slip into a post. That’s what Portfolio magazine’s Kevin Maney tried to do last Friday, when he announced that as part of the cutbacks at Condé Nast, he’d no longer be writing his Tech Observer blog. By Monday, Maney’s post had disappeared. Fortunately, we’ve got the full text right here. Unfortunately, we’re going to be reading many more goodbye posts in the months to come.

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After announcing staff cuts yesterday, Condé Nast’s Portfolio has begun handing out pink slips. Senior editor Ken Wells is the most high-profile of the names so far; earlier this week, the magazine hosted a book party for the Wall Street Journal vet.

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More cuts at Condé Nast: The publisher will fire most of the staff of its Portfolio.com Web site, which is run separately from its sister print publication. The site’s editorial staff of roughly two dozen will be shrunk down to “single digits,” says a source at the company. But Condé Nast managers haven’t told Portfolio.com staffers who’s staying and who’s going.

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Time Warner’s Time Inc. won’t be the only magazine publisher making cuts this fall: Condé Nast is trimming its sails, too. The privately held publisher is reportedly telling every one of its titles to cut five percent from both its editorial and business ledgers, a number that MediaMemo hasn’t been able to confirm.

But I can tell you that the staff at Portfolio, Condé’s business magazine, launched with equal parts fanfare and controversy last year, has been summoned to an all-hands meetings that should be starting … now. I’ll pass along more details as I get them.

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