Skip to comments.Time Warner to cut Time Inc jobs (Dinosaur Media DeathWatch™)
Posted on 10/23/2009 5:20:26 AM PDT by abb
Time Warner Inc's (TWX.N) magazine division Time Inc plans another round of job cuts as advertising declines erode revenue, a source familiar with the unit said on Thursday.
The job cuts at Time Inc -- which publishes Time magazine, People, Sports Illustrated and Fortune -- would be at about the same level as the division cut last year, the source said.
Time Inc. cut more than 600 positions, or more than 6 percent of its workforce, in that round.
The company declined to comment, though a spokesman for Fortune magazine separately said that it plans to shave the number of issues that it publishes a year to 18 from 25.
The report of the cuts first appeared on The Wall Street Journal's website sourced to people familiar with the matter.
Declines in ad revenue are hurting magazines and newspapers as the Internet sucks away readers, and advertisers cut their budgets because of the recession.
McGraw-Hill Companies (MHP.N) earlier this month said it was selling BusinessWeek magazine to Bloomberg LP.
(Excerpt) Read more at reuters.com ...
Who even reads these rags any more except while in the doctor's / dentist's waiting room?
It’s just a matter of time and it will go the same way as US News & World Report (Internet Only). Don’t know whether it will beat Newsweek though.
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TIME, oh, good, good TIME
Where did you go"
The Future of TIME
How is putting out a third less of a product going to help? Sounds like it's the product that isn't wanted as opposed to ad revenue.
The job cuts at Time Inc -- which publishes Time magazine, People, Sports Illustrated and Fortune -- would be at about the same level as the division cut last year
So, it isn't because of this year's recession. Wonder if they cut jobs at this time of year two years, three years, four years ago.
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for example, the Graphics Department had to cut the number of full-time Photo Editors devoted to preparing cover photos of Barack Obama from 7 down to 4.....
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Figures to be released Monday will show circulation of the Sunday Detroit Free Press down 7.5 percent and sales of the Free Press and Detroit News off as much as 15 percent on some days during the week. The figures, provided by Janet Hasson, senior vice president for audience development and strategy, reflect the six months ending Sept. 30, compared with the same period in 2008.
I’m surprised that anyone can read in Detroit after decades of affirmative action public schools.
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Oh NO!!! Say it ain’t so! I won’t be able to sleep all week-end!!! zzzz zzz zzzz