Time Inc. Layoffs Continue
According to a spokesperson, 66 dismissals;40 business-side employees and 26 "non-guild" editorial staffers;were made yesterday. A number of the company’s magazines, including its flagship Time, appeared to be affected.
An additional number of "guilded" editorial employees;members of the Newspaper Guild of New York;were offered buyouts, with the total number cuts not expected to exceed 100, according to the spokesperson. Those offered buyouts have until February 13 to accept the offer. No additional layoffs are expected in the "near term."
In December, Time Inc. CEO Ann Moore said that its reorganization last summer was a signal of an ongoing strategy to streamline its operations. "This is not just about lopping off heads," Moore said in an interview with Ad Age. "This is going to be an ongoing process because we don’t have all the answers yet."
The cuts include up to 10 at Time magazine, the magazine’s managing editor Jim Kelly told the New York Times on Tuesday.