Time Inc. Update: Buyout Packages, 'Hard Look' At Unprofitable Titles, Some Departures

First: at least there will be decent severance. Both guild and non-guild employees are being offered two weeks’ pay for each year of service, while employees based in New York State will get 13 weeks pay on top of that. (Media Decoder)

Second, though we’d heard that no titles would be closed, Time Warner CEO Jeff Bewkes said during today’s conference call that Time Inc. “will continue to take a hard look at our least profitable titles.”