Company-Wide Layoffs Hit Time Inc.
Up to 110 employees cut across the board following weeks of restructuring.
Time Inc. will lay off dozens of employees, following extensive restructuring that unified management teams and consolidated sales forces across the company’s many titles and brands.
While the company would not confirm any numbers, The Wall Street Journal reports that 110 employees will be let go.
A spokesperson for the company tells Folio: that layoffs are happening across various departments, starting today. Time Inc. employs 7,200 people globally.
“Over the last couple of weeks, we have been realigning our organizational structure to better leverage our content creation, sales, and marketing and brand development operations,” the spokesperson said in a statement.
“Our primary objective has been to better position ourselves to operate with greater agility and optimize the growth areas of our operation. As a result, there will be some job eliminations. That is always painful but an unfortunate reality in today's business climate.”
In addition, MaryAnn Bekkedahl is leaving the company, Folio: has learned. Bekkedahl joined the company in May as president of fashion and luxury. She was hired to oversee InStyle, StyleWatch, Food & Wine, Travel + Leisure, and Departures.
Bekkedahl joined Time Inc. from Keep Holdings, an ecommerce website which she founded after leaving ad sales at Rodale. Bekkedahl resigned as EVP and group publisher at Rodale in 2009 after 17 years at the company. Before leaving, she oversaw the sales and marketing teams for Rodale’s many magazines, including Men’s Health, Women’s Health, Prevention, Runner’s World, Bicycling, Running Times, Mountain Bike, and Organic Gardening.
Kevin White, group publisher of Cooking Light, Health, and MyRecipes will also leave Time Inc. after 24 years at the company. White announced his departure on LinkedIn last week.
Correction: An earlier version of this story stated that MaryAnn Bekkedahl was among those laid off. Sources familiar with the situation tell Folio: that Bekkedahl is departing by choice.
This is a developing story and will be updated as more information becomes available.