Media Giant Axes 250 | Adweek Media Giant Axes 250 | Adweek
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Media Giant Axes 250

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NEW YORK After two rounds of cutbacks at Time Inc., the company orchestrated its most massive layoff to date, slashing 250 jobs across a lengthy list of titles.

Time Inc.'s employee base has shrunk to 12,000 from 13,000, due in part to the sale of its book group and a total of 455 layoffs over the past four months.

The cuts came from mid- and junior-level publishing positions across consumer marketing, sales, production and public relations at various titles.

Among those executives leaving are Entertainment Weekly vp, communications Sandy Drayton, who has been with Time Inc. for 20 years, and Susan Ollinick, vp, communications for the Parenting Group, who has been at the company for 17 years.

"As Time Inc. continues to evolve to a multiplatform media company, we're looking to run our business more efficiently and effectively re-allocating our assets and investing in areas of higher growth," said a company representative.

The most recent layoffs follow two rounds that began in December, when Time Inc. cut 105 staffers, including a number of top-level corporate executives and managers. In January, the company slashed another 100 employees primarily on the editorial side.

But as 250 staffers exit the company today, Time Inc. believes the latest round of personnel reductions may be the last. "We believe this covers the vast majority of job eliminations for the foreseeable future," said the rep.

While Time Inc. saves money by trimming its head count, the layoffs have also helped the company invest more into growth-oriented business segments such as its Web properties and research. Time Inc. will add another 50 online positions through the year and has already bulked up sales staffs at properties like People.com.