Back to reality! After record-breaking sales of newspapers across the country due to Barack Obama's historic election we are back to talking about lay-offs. This time at Hearst. Folio: is reporting that Hearst has "Hearst has confirmed that layoffs have been made company-wide." No word yet on the numbers just that the layoffs were made in an effort to "streamline" the company, though a spokesperson did tell Folio: that the cuts were "minimal compared with some of our competitors."

Heart, which cancelled its holiday party last month, joins Time Inc., Rodale, Conde Nast, and McGraw-Hill all of whom have announced major layoffs in the last few weeks.