(January 18, 2007) – Time Inc. today began staff layoffs of almost 300 employees across its family of magazines, including its flagship publications Time, People, and Sports Illustrated, as well as closing some of their bureaus.
The nation’s largest magazine publisher said layoffs and cost-cutting were in line with their plans for the future, which includes expanding their brand on the Web.
Time magazine is expected to lay off 70 people. Among the bureaus Time Inc. will be closing on February 1 are People’s bureaus in Miami, Chicacago, and Washington, and Time magazine’s bureaus in Los Angeles, Chicago, and Atlanta.
In a memo to Sports Illustrated staff members today, editor Terry McDonell told employees that in addition to the elimination of some editorial titles, the magazine needs to reduce headcounts in a list of positions, including 3 photographers, 1 photo editor, and 1 imaging specialist. “In an effort to avoid layoffs wherever possible, we are asking employees from these categories if they wish to volunteer to leave SI with a severance package,” McDonell wrote.
Adweek has reported that Time and People are expected to have the most layoffs in the company. Time Inc. reports a global editorial headcount of 11,000 and they expect to cut that number by 2 percent.
Time’s director of photography Michele Stephenson took early retirement on January 5 after 19 years as the magazine’s photography manager and deputy picture editor. Picture editor MaryAnne Golon was named to replace her.
In a statement, Time Inc. said, “These layoffs are part of the necessary restructuring of our business as we continue to transform into a multi-platform publisher.” In the last days of December, Time Inc. laid off 27 people in their corporate consumer marketing department. Adweek reports that Time Inc. laid off 577 people in 2006, and that 500 more will be laid off after the company sells Time4 Media properties.
