Time Inc. Layoffs: Sports Illustrated Hit First, More To Come

Layoff news started trickling out of Time Inc. last night: The New York Times reported that 15 to 20 sales and marketing staffers were laid off from Sports Illustrated.

But, we expect many more cuts to be announced later today as the magazine publisher looks to trim $100 million from its budget. The Times reports that meetings are scheduled for Time Inc. staffers at 10 a.m. today, and 400 to 500 people might lose their jobs — although those covered by Newspaper Guild contracts will be offered buyouts.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in