This site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more here.

News

Time Inc preparing for more job cuts in 2014

10 December 2013
Time Inc preparing for more job cuts in 2014

More job cuts could soon hit Time Inc, according to Adweek. Company executives informed their top 300 managers of the potential cuts at a quarterly meeting yesterday.

The warning came during a question-and-answer session with Time Inc's newly appointed chief content officer, Norm Pearlstine. Asked by Time Magazine managing editor, Nancy Gibbs, as to whether there will be layoffs, Pearlstine answered "yes" and said the decision would be a difficult one.

"He spoke compassionately," said one Time Inc staffer who attended the meeting.

Time Inc, publisher of magazines such as People and Sports Illustrated, began the year by cutting about 5% of its workforce - about 500 positions - in its biggest staff reduction since 2008. It is entering 2014 preparing for its spinoff from parent company Time Warner.

Third-quarter revenue at Time Inc decreased by two percentage points to $818 million, having suffered a decline of four percentage points in subscription revenues and drop of two percentage points in ad revenues.

Related Stories:

Time Warner Cable appoints Dinni Jain as chief operating officer

Time Warner Cable loses more than 300,000 video subscribers in Q3

Luke Cloherty, London

Comments  

Add comment

You must be signed in to comment. Click here to sign in

Email

Close [x]


The Shortcut

Sign up for your weekly fix of global media and marketing news and insights.