Downsizing at Time Inc. becomes real today; People mag is looking for 18 volunteers to take buyout packages, while Sports Illustrated is looking for 40 across its properties.
Given that the company has set aside $100 million for severance this, of course, is probably only the first round of cuts; the memo from each title only talks about union-covered employees, and some higher-level staffers will likely be cut as well. Sorry to see anyone lose their jobs, especially in this economy.
November 10, 2008 at 12:30 pm |
[...] is look for 20 volunteers (via Newsweek.com editor (and former Time employee) Mark Coatney): Due to the corporate restructuring, we need to reduce approximately 20 staffers at TIME across [...]