Condé Nast. The New York Times. Forbes. By the end of the year, all of these media organizations will have cut their staffs to meet the challenging economic times facing the entire industry. These are just the realities of the fourth quarter, readers of the bottom line tell us.
So, it was only a matter of time before we heard of layoffs at another venerable New York-based media company: Time Inc. Last year, Time made history by laying off 600 people company wide. But, if this item in today’s WWD Memopad is to be believed, more cuts from “across the board” are coming next week.
This is not pleasant news to report, but it’s not surprising. As media companies struggle to meet year-end earnings goals and look towards creating next year’s budgets, layoffs are inevitable. Now, where did all those people trumpeting the end of the recession go?
Time For Cuts? —WWD
Related: Time Inc. To Layoff 600