After weeks of speculation over how long the layoffs would stretch out at Time Inc., FishbowlNY has heard that another round of cuts is underway right now at the Time Warner-owned magazine publisher.
A Time Inc. spokesperson confirmed that layoffs were taking place at a number of titles across the board, but would not comment on which titles were affected or how many staffers were being let go. (Know anything? Send us an email or leave a tip in the box at right.)
Earlier this month, reports placed the total number of staffers likely to get the axe at around 400 to 500, as a struggling Time Inc. sought to trim its budget before the New Year. There were immediate cuts on the business side of the organization, and then editorial staffers were offered voluntary buyouts. The deadline for the buyouts came last week, and we expected layoffs to follow in order to round out the total number of cuts for the year. Although the pre-Thanksgiving timing of today’s layoffs is pretty brutal, we’ve been told that a majority of Time Inc.’s cuts for this year should be completed by the end of today.
Sadly, this all comes just one year after Time Inc. slashed its staff by 600.