Around the Net

More Edit Layoffs At Time Inc.

The New York Times, Monday, January 15, 2007 9:45 AM

A People magazine piece on Britney Spears and her new boyfriend was just five paragraphs long and reported and written by seven people. But with layoffs on tap at Time Inc., such reporter-heavy treatment is headed the way of Kevin Federline, Ms. Spears's soon-to-be-ex-husband.

The magazine unit is ready to chop more than 150 people--half in editorial--across its best-known titles, such as Sports Illustrated, Time and Fortune. The firings follow 600 last year, many from the business side, and a move to sell about 18 of its 150 books.

Time Inc. chief Ann Moore has not publicly outlined or discussed the cuts--and declines to talk to the New York Times--but other execs apparently say that while Time Inc. is profitable, it is seeing a drop in print ad revenue amid increasing competition from the Internet. To prepare for the future, the company will cut costs now and continue to shift resources to branded Web sites.

Read the whole story at The New York Times »

Next story loading