Time Inc. Cuts Come Tomorrow
A brief but unpleasant update to the long-running Time Inc. layoff story: The cuts will finally arrive on Wednesday, people at the company tell me.
If you’re one of the publisher’s 8,000 employees, the good news is that many people I’ve talked to seem to believe that an earlier report (which I’ve repeated) of up to 700 layoffs may be too high, and that the total may end up closer to 500. Then again, no one has offered a definitive headcount.
The other consensus opinion is that the cuts will affect just about every corner of the company, and most of its magazines (it publishes 21 in the U.S.).
But there are plenty of other Time Inc. employees who don’t work at a particular title, and centralized departments like research and HR will be affected, too.
Bottom line: The cuts will be big, and they’ll be the most significant move CEO Laura Lang has made in her first year on the job.
No comment from Time Inc. PR.