Time Inc / Layoffs may hit sooner and harder than expected

Layoffs at the U.S. magazine publisher Time Inc. may hit sooner and harder than expected, according to reports.

On Tuesday, the New York Post reported that almost 500 people, or about 6 percent of the company’s workforce, could be affected by the staff cuts. Women’s Wear Daily, meanwhile, reported that the layoffs could come as early as next week. The reports come almost exactly one year after Time Inc. laid off about 500 people. At the time, Laura Lang, Time Inc.’s then-chief executive, wrote about a “new normal” in a memo to staffers, telling them that magazine companies are being forced to do more with less.

The new round of layoffs have been expected for at least several weeks. At a quarterly meeting in early December, Norm Pearlstine, Time’s chief content officer, reportedly warned the company’s top managers that staff cuts were imminent. Pearlstine was brought on board in November to fill the newly created position, which replaced the editor-in-chief role.

Chosen excerpts by Job Market Monitor. Read the whole story at Time Inc Layoffs Loom In 2014 As Spinoff From TWX Draws Closer.