TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Massive Job Cuts At Newsweek

NewsweekIs Time Inc. next?

Shortly after 1pm yesterday, word leaked out of a massive exodus at Newsweek. In short: More than 100 staffers accepted a buyout from Newsweek. The departing names include David Gates, David Ansen,Cathleen McGuigan and all of the magazine’s chief researchers. Over at Radar, Charles Kaiser writes:

146 staffers were offered the chance to leave the magazine, with as much as two years of their current salary as a departing bonus, depending on their age and length of service. The package also includes pension sweetners and the chance to continue health insurance coverage until the age of 65. More staffers than expected accepted the offer, so at least some their jobs are likely to be filled by new hires. But dozens of positions will be eliminated permanently.

The news isn’t so great at Time Inc. either. Nat Ives reported in Ad Age that the company’s quarterly management meeting left many with the impression that massive job cuts are coming up in the near future.

Mediabistro Course

Magazine Writing

Magazine WritingStarting September 4, learn how to get your work in top publications! You'll learn how to create captivating stories editors will want and readers will love, understand which magazines are right for your stories, craft compelling pitch letters, and more! You'll leave this class with two polished articles and corresponding pitch letters. Register now!