Time Inc.: The LayoffsJon Fine
The company isn’t commenting yet, but the New York Times is reporting what we’re hearing as well—that one part of Time Inc.’s layoffs involves People magazine axing its bureaus in Washington DC, Miami and Chicago.
We’ll have more on this shortly.
UPDATE: 12:20 PM Ann Moore announcement—short on specifics—follows.
January 18, 2007
To: Time Inc. Staff
As you all know, the past year has been a time of transition at Time Inc. While we continue to invest in our core magazines, we are also focused on transforming our workforce and broadening our digital capabilities in order to become a truly multi-platform publisher.
We’ve made a lot of progress. Many of our web sites have matured into strong and popular brand vehicles, while others are relaunching new designs with fresher content. Meanwhile, our magazines continue to be some of the most popular and relevant titles on the newsstand today.
But progress brings change and we need to continue to evolve to meet the cost pressures and challenges presented by our rapidly-shifting industry.
Today I need to share with all of you that we are announcing layoffs throughout the organization.
These layoffs, which are in several business areas and on both the edit and publishing sides of a number of titles, are part of a restructuring necessary to sustain our progress.
You will continue to hear much speculation about our company in the press, so I encourage you to stay focused. I know this is a difficult time for all of us — it’s never easy to see talented colleagues leave.
Difficult times also bring opportunity, and I believe we have enormous potential for innovation and growth. I speak for the entire management team when I say we appreciate your hard work and dedication.
UPDATE 2:30 PM: Of all the days to have an uncancellable lunch scheduled … The above missive is neatly translated by Ad Age: 289 layoffs, 172 editorial.