Jobs Cuts At Time Inc. Ahead Of Spinoff

 

 

 

” Magazine publisher Time Inc. is cutting staff and consolidating operations ahead of a spinoff as an independent company, according to an internal memo.

  The memo seen by AFP did not specify the number of jobs, but some reports said the figure would be around 500, or six percent of the workforce.

” Today, we are beginning a restructuring process that will move us in the right direction by: eliminating our three brand operating clusters; streamlining decision-making across the entire organization; and completing the integration of American Express Publishing,” Time Inc. chief Joe Ripp said in the memo to staff.”

 

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