Time Inc.'s Holiday Surprise: Layoffs

27 Mid-level Staffers in Consumer Marketing Let Go

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NEW YORK (AdAge.com) -- Time Inc. axed 27 mid-level and junior employees from its consumer marketing department today, proving wrong anybody who thought their jobs were safe at least until January, when wide-ranging layoffs at most titles are due.
Time Inc. has laid off more than 400 this year.
Time Inc. has laid off more than 400 this year.

The company, which is the country's biggest magazine publisher, has already laid off more than 400 people in the past 12 months as part of a restructuring effort designed to cut costs, streamline decision-making and direct resources toward high-growth areas such as the internet. It also shut down the print edition of Teen People and put 18 magazines up for sale.

Consultant McKinsey & Co. has been evaluating Time Inc. and is expected to deliver a recommendation to restructure its business to build out digital platforms next month.

The effort, to say the least, has not enamored Chairman-CEO Ann S. Moore to the rank-and-file, which still number around 12,000. An insider today said today's layoffs should be the last for the year -- although that was the unofficial word before today too.

Media Bistro's FishbowlNY reported the news first this afternoon.
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