Tis the season for layoffs! According to The Guardian, Time Out Group is about to cut a total of about 40 staffers from its U.K,. and U.S. offices.
As with any move like this, the reason boils down to money. A Time Out spokesperson said the cuts would allow the company to “take advantage of the new landscape.”
“As a result of this transformation and to reflect the new mix of skills required by the business, a number of jobs in our UK and US teams will be impacted, and some jobs will sadly be lost,” said the spokesperson. “We will continue to invest in the areas of the business that will drive the future growth of the company and become a global commerce platform in the key vertical categories.”