Skip to comments.Time Inc. Will Lay Off 700 After 5% Ad Decline
Posted on 01/12/2013 5:36:01 AM PST by Zakeet
Time Warner's Time Inc. will lay off up to 700 staffers out of just under 8,000 total as the publisher's new chief struggles to transform famous titles and massive market share into a digital profit center.
The staff cuts will come sometime in the first quarter, said a person familiar with the company's plans, and will be across the board -- not just focused on editorial, where staffing has already been hard hit.
Time Inc. revenue fell 6% for the nine months ended in September to $2.5 billion. Profit dropped 14% to $220 million. During that period, it dominated 21.5% of overall domestic magazine advertising.
Time's stable of 21 U.S. magazines and 25 websites includes Time, In Style, Fortune, People, Entertainment Weekly, Sports Illustrated and Real Simple. It has over 100 titles worldwide.
(Excerpt) Read more at businessinsider.com ...
For some mysterious reason, their ad revenues and subscriptions are falling ...
I guess two time man of the year didnt help them, ha!
I wonder if this has anything to do with their utter irrelevancy in the area of rational thought/reality.
Time in decline ... ping
Wait, they made a profit and are still laying off folks? Maybe someone should notify the Unification Board, this seems very unprogressive.
What happened to “fairness” ?
"No.. wait! We didn't mean us!"
Since Time is SUCH a Hussein Head supporter, I’m thinking they’re immune to the report reading that they’re doing the layoffs because of Hussein’s Death Care.
Because the pages are made of non-absorbant paper, their rag isn’t even worth wiping with.
I’ve been absolutely giddy about the NYT and Time news.
I don’t see too many people crying over this news. Going by comments elsewhere (which 99% of the people are happy with the news) I can’t help but wonder how Time feels about being as popular as Congress
I hope all of them are registered Democrats.....gutterwhores and scumbags!
I’ve heard people blame technology on the decline of print media. “Oooohhhh, young folks all use the Internet for news and papers are an artifact of the 1950s.”
Well that may be true to an extent, but these news rags have been declining for many decades before the net even existed. And Time Mag has plenty of ads and stories on tech and pop culture and hipster stuff, so their target audience clearly is meant to be a youthful one and not senior citizens who’ve been reading it since 1945. Yet their circulation still sinks like a rock.
Answer: It’s not demographics or the Internet, stupid. It’s the liberal garbage and Obama worship you fill your pages with each and every week.
Awwwww. I feel the same way about this that I felt about Ted Kennedy and Bin Laden becoming worm food.
The lack of sales precedes the loss of circulation. magazines and newspapers are no longer effective advertising vehicles and haven’t been since the advent of the internet
But according to Time, the Obama economy is roaring...
To all laid-off Time staffers: BwahahahahahahahahahahaHAHAHAHAHAHAHAHAHAHAHAHAHA...you couldn’t be a more deserving lot.
“Before my eyes they are crumbling all of them. NY Times, Time, Newsweek the ratings for all 3 evening news are in the toilet.”
Add to that the multiple failures in recent years of liberal radio and TV shows.
I long for the day when PBS loses the government subsidies that prop it up at the expense of the American taxpayers.
“Its the liberal garbage and Obama worship you fill your pages with each and every week.”
The problem for liberal outlets is that the garbage they spew is totally predictable and devoid of any entertainment value. Liberal talking points are like listening to a broken record. Same thing over and over again. Blame conservatives, expand government, and champion the Takers.
i agree 100%
They could replace their whole news department with a fax machine directly connected to The white House and no one would notice the difference.
See my tagline
Law of unintended consequences may play a role also-—the public school system has not been interested in teaching kids how to read or think critically for quite some time now. So who did they think would be their future customer base?
Besides, once a week news cycle is so 20th century-—Progress is where it is at.They are progressive but have made no progress in this arena.
TIME All out of Whack
Just rename it "Obama Magazine" already and be done with it.
Isn’t there already an “O” magazine ( for Oprah) and it also isn’t doing well..Neither is her OWN (Oprah Winfrey Network)
“You must remember this
A miss is still a miss
A lie is still a lie
The fundamental things apply
As Time goes bye-bye”
Now I’m going to have that tune stuck in my head all day. Witty though.
Couldn’t happen to a better magazine!
I would like to see everybody who works for the Democrat "mainstream" newsrooms lose their jobs, their homes, and their families. For what they have done to a once-proud nation they deserve nothing less.
Years ago they had a great book publishing section.
Leftists ruin all.
Fantastic! Hopefully more layoffs will come!
Time employs that many people? For what? I hate for anyone to lose a job, but how many people does it take to print rat talking points every so often?