The entire editorial staff of Out magazine was laid off this week, reports Captial New York—but that might not be the end of the influential queer glossy.

Out editor-in-chief Aaron Hicklin says he will be hiring back most of the editors as contractors for a new content firm he’s founding, Grand Editorial. His company would then provide editorial to Out on a contract basis, with staffers paid per project, not on a regular salary.

Hicklin denies it was a cost-cutting move, and says readers won’t see any change in the frequency of the publication or other aspects of the magazine:

“I felt I was at a place where I had enough experience and relationships to parlay that into an agency that would provide a sort of editorial consultancy and content for other titles and corporate clients…

With any startup, there are always risks. But for lots of publications, midsize publications especially, I think it makes sense to be a little more innovative in thinking about how they find ways to continue creating high quality content while being mindful of the huge transition the media is going through.”

Out‘s parent company, Here Media (a subsidiary of Regent Entertainment), has faced financial hardships in the past, with freelancers claiming invoices had gone unpaid and a fraud lawsuit against Regent still outstanding.

Photos: Here Media

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