Loading ...If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
It probably isn’t too fun to wake up in the morning and think, “oh yeah, today is the day my company is planning on laying of 200 to 300 people today. Perfect.”
This might have been the first thought had by every employee for Time Inc., which cut 289 jobs this morning.
Of these positions, 117 are on the business side of publishing and the rest are editorial. The company hoped that, of the 172 editorial positions, 86 will accept the voluntary buyout packages.
This amount is more than 2 percent of the company’s workforce, the total of which was about 11,000 people after months of cutbacks and downsizing.
Before this morning, the number hovered between 200 and 300 due to union buyout questions on certain titles owned by the company.
This contract established that Guild members must be offered a buyout package first. 100 people accepted this.
Whether the layoffs were voluntary or forced, it stands that all are a result of the company’s attempt to continue efficiency through intensive reorganization. Additionally, the media is in a constant state of flux, which results in a priority placed on advancing digital capabilities and investments.
The CEO-Chairman, Ann S Moore, explained to the people she laid off, “But progress brings change and we need to continue to evolve to meet the cost pressures and challenges presented by our rapidly shifting industry.”
This progress cost 289 people their jobs. It really was the bloodbath that everyone anticipated.
How Many? 289 Out at Time Inc. [MediaWorks]
—Elizabeth
Subscribe to Metadish using an 
Post a Comment