'You're Fired ... Oh, and Merry Christmas from Time Inc!'

21 December 2006

NEW YORK: With a level of insensitivity that only a media mammoth could muster at this time of year, America's largest magazine publisher Time Incorporated on Tuesday fired twenty-seven mid-level and junior marketers.

This latest crop of sacrifices to the Gods of Wall Street follow over four hundred layoffs during the past twelve months - and staff are braced for more in January when the full impact of McKinsey & Company's restructuring recommendations become known.

The restructuring aims to correct the manifold management failings of past years and McKinsey is expected to advocate acceleration of the slimming process in order to fund new digital platforms.

A photograph of chairman/ceo Ann S Moore is said to adorn more than a few dartboards at Time's Rockefeller Centre headquarters.

Data sourced from AdAge (USA); additional content by WARC staff