Time Inc Cuts More Jobs

22 January 2007

NEW YORK: America's largest magazine publisher, Time Incorporated, has cut a further 289 editorial and administrative jobs at some of its best known titles, including People, Time and Sports Illustrated.

The company says the layoffs and nationwide bureau closures will help it save money and accelerate its shift into higher-growth digital businesses as it endures the painful throes of restructuring under the watchful eye of management consultantcy McKinsey & Co.

This latest trimming of the workforce, the recent sale of Progressive Farmer magazine and the pending sale of 18 magazines from the Time4 Media and Parenting groups, will see the company's employee numbers at 10,500, down from around 12,000.

Chairman/ceo Anne Moore told staff: "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 multiplatform publisher."

She added the cuts are "part of a restructuring necessary to sustain our progress".

Data sourced from Wall Street Journal Online; additional content by WARC staff