Time Inc. To Lay Off About 480 Staffers

Those rumored staff cuts at Time Inc. have begun, acording to a company memo by CEO Laura Lang posted by Bill Mickey. The important number: roughly 6% of 8,000 employees are out (did the math, duh, and that's 480 pink-slipped folks), who "come from all areas of Time Inc. across our locations - both domestic and international," says Lang in her memo.

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