Time Inc. Prepares for Layoffs

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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  • Denny Hatch

    Layoffs at TIME? Check out a recent TIME masthead:
    435 people. Check out a recent issue of TIME magazine (Jan. 14, 2013). 60 pages. Do the arithmetic. 7.2 people-per-page. Okay, TIME’s got a kid’s edition plus marketing and PR. But . . . the March 23, 1923 launch issue of TIME ram 32 pages and consisted of 117 articles created by approximately 20 staffers—or 0.72 people-per-page. I have my own conclusion. What’s yours?