With a handful of higher-ups already out the door, Time Inc. is moving to the rank-and-file as it, like other publishers, seeks to reduce its workforce in the face of dropping ad revenue.
Some of Time Inc.’s biggest magazines have put out the call for at least 83 volunteers to take buyouts, according to memos and staffers at the company. The news comes as part of the company’s previously announced restructuring and plan to cut its headcount by about 600, or roughly 6 percent of the Time Inc.’s worldwide workforce of 10,200.
even Obama can’t halt the slide of legacy media. those darn bloggers!
I wonder what the “buyout” is? Anyone know? I would love to have my company offer me a buyout, but, what the heck, darn, we are successful and growing. I fear Obama will cause that to change.