Time Inc. eliminating nearly 300 jobs
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Time Inc. is eliminating nearly 300 jobs as it continues to revamp its huge portfolio of magazines such as Time, People and Sports Illustrated in an effort to adapt as readers and advertisers move to the Internet.
The magazine publisher, which is part of the media conglomerate Time Warner Inc., announced to its staff that it was eliminating 289 jobs in various departments across the company, which publishes about 150 magazines.
The cuts, which had been widely expected, would bring Time Inc.’s payroll down to about 11,000, Time Inc. spokeswoman Dawn Brides said.
Time Inc.’s flagship magazine, Time, will close its bureaus in Atlanta, Chicago and Los Angeles as part of the cuts.
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