Tough Holiday: Time Inc. Lays Off Staffers Days Before Thanksgiving
It’s been widely reported that Time Inc. has been planning a rather significant round of lay-offs before the end of the year. The conventional wisdom around New York publishing circles was that the lay-offs would be coming after Thanksgiving. Unfortunately, that does not appear to be the case, as a Time Inc. spokesperson confirmed exclusively to Mediaite: “Yes, sadly there are layoffs today across a number of titles at Time Inc.”
Writing for the NY Post, Keith Kelly had previously reported last Thursday that layoffs would be coming after several staffers would volunteer for buyouts.
“The biggest magazines in the Time Inc. empire — People, Time, Sports Illustrated, Fortune and Money — should find out today how many volunteers have stepped forward to accept buyout packages.
It appears that not enough staffers stepped forward for a buyout to preclude further cuts in staffing. The spokesperson for Time Inc continued, “Today’s layoffs will mean the vast majority of layoffs announced earlier this month will be complete.”
At this point, no numbers have been confirmed as to total staffers cut.
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