Time Inc.'s Layoffs Will Cost $60 Million In 'Restructuring'

More ugly arithmetic from Time Inc., which earlier reported layoffs of roughly 500 employees: That move will actually cost the company $60 million in "restructuring" costs this year, writes Peter Kafka. Time Inc.'s Q4 report tracked losses including a revenue decrease of 7%. "But the publisher is still the world’s biggest, and it still makes piles of money," with operating income of $200 million.

 

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Tags: magazines
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