Morning Media Newsfeed: Time Inc. Lays Off 500 | Carvin Joins FLM | NBCNews.com Launches
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Staff Out of Time: Cutbacks Begin at Top, Dozens More to Come (NY Post / Media Ink)
The cutbacks began Tuesday as expected at Time Inc. and they took a heavy toll among some of the top-echelon executives as the magazine publisher abolished its three-cluster system centered around brands and put everything into one pot. One source said that while the number of cuts did not hit 500 on Tuesday, that was only because a lot of the pink slips will rain down over the next several weeks or months as the reorganized company makes moves to be spun off from Time Warner.
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