Four percent doesn’t sounds like a terribly huge figure, but that all depends on your starting amount. And for Time Inc., that figure represents 300 or so employees across the company who will leave or lose their jobs in a round of just-announced buyouts and layoffs.
The cuts come after the company decided not to sell itself and a Q1 earnings report that showed a significant drop in revenue. When the earnings report came out, Time CEO Rich Battista warned of cost-cutting measures the company would undertake.
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