Contributing to low morale at 1 World Trade was a sense that the company’s leadership was in flux, which resulted partly from a recent spate of articles and items speculating on the future of Ms. Wintour, the editor of Vogue since 1988 and the company’s artistic director. The gossip had it that she was looking to make an exit from Vogue after publishing her next September issue, with Beyoncé on the cover.

More than a top executive and editor, Ms. Wintour, with her trademark flapper’s bob and Chanel sunglasses, serves as a company avatar. Meryl Streep portrayed an exaggerated version of her in “The Devil Wears Prada,” and Ms. Wintour played herself in the recent “Ocean’s 8,” a movie largely centered on the Met Gala, the yearly New York benefit that she stage-manages with the assistance of 175 Vogue employees.

Mr. Sauerberg tried to stifle the chatter on Tuesday, when he released a statement that Ms. Wintour “has agreed to work with me indefinitely in her role as editor in chief, Vogue, and artistic director of Condé Nast.”

It will take more than corporate stability, however, to reverse the company’s slide.

The $120 million loss in 2017 came about because of a sharp decline in ad revenue generated by the print magazines. Gains in the digital arena have helped offset the loss, but not enough to make the company profitable. Condé Nast reached its decision to entertain offers for Brides, Golf Digest and W partly on the recommendation of Boston Consulting Group, the three executives said.

Condé Nast declined to comment for this article.

John Wagner, who oversees ad spending with publishers at the media agency PHD, questioned the company’s strategy, saying that Condé Nast can be “quick to close things, versus trying to find a solution.” He added, “I’d like to see them continue to invest — keep the brands alive, even if you have to change their rate base or publishing frequency.”