Time Inc. Prepares for Layoffs

January 11, 2013

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Time Inc. staff are on eggshells as they await news of layoffs and smaller bonuses than in years past as the company faces declining revenue. CEO Laura Lang, in a memo yesterday, has already told employees she would eliminate the usual 3 percent merit increase for 2013 as the company looks to “aggressively manage costs.”

Bonuses have been a point of contention in the past, when former CEO Ann Moore changed the formula to deemphasize individual divisions’ performance

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Source: AdWeek