It’s a historic day for Time, for sure, but it’s also a nerve-wracking one for staffers who read this morning’s New York Post.

Time managing editor Richard Stengel:

The issue you are holding in your hands — or perhaps you’re reading this online — is the first issue of Time with our new on-sale day, Friday. In fact, it’s the first copy of Time magazine to go on sale on Friday in more than 50 years. We’ve moved our publication schedule because the news environment has shifted and because we’ve been listening to you.

Media Ink’s Keith Kelly:

The latest casualty figure is 150 people — with the ax being honed and a decision possibly due from bosses like CEO Ann Moore in the next two weeks. “These things tend to change almost day to day, I don’t think anything has been finalized yet,” said one source. It is clear that the editorial ranks will absorb more cutbacks than in the past. Insiders are expecting that Time magazine, which installed Rick Stengel as the managing editor in June, will be particularly hard hit.

EARLIER: