Since Norman Pearlstine, former Editor-in-Chief of Time Inc., joined Bloomberg as Chief Content Officer, many of the staffers at Timehave slowly been trickling over to join him. First, it was Josh Tyrangiel, who now serves as BusinessWeek’s Editor in Chief. Then, it was Arthur Hochstein, Time’s “legendary” art director, who stepped down in 2009 and will now be consulting for both BusinessWeek and Time. Who else is planning to “reunite” with Pearlstine?

The NY Times reports today that Time Inc. is expected to announce next week that it will cut $100 million in costs and make significant layoffs, describing this as “another blow to what is becoming an increasingly grim industry.” Well, at least some attention is off of Conde Nast.

September ad sales figures came out this week for the closely watched Women’s Fashion category, generating a lot of Sturm und Drang (and maybe even leading to at least one interverntion). Every title is significantly down in the what is always the biggest month of the year – every title but one: Time Inc.’s InStyle.

Keith Kelly reported that John Huey, the Editorial Director of Time Inc had “assembled a high-level SWAT team of in-house and external experts to revamp Fortune. “Sound familiar? Its because he’s used the same team to re-design Entertainment Weekly and Money, with little to no impact. What’s going on at Time Inc.?