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Memo: SI‘s Terry McDonell On Time Inc. Cuts

fbny_si_cuts.jpgMore details via Time Inc. employee memos, this time from Sports Illustrated‘s Terry McDonell:

TO: SI Edit Staff
FROM: Terry McDonell

The timing is unfortunate; I realize that many of you are out of the office today but this announcement is coordinated with similar announcements at some other Time Inc. magazines.

In recent years SI Edit has successfully complied with budget reductions through operational cost-cutting and expense management, but regrettably the day has come when staff reductions can no longer be avoided. Cost cutting in other areas remains a priority, but streamlining of the SI Edit staff is necessary to reach mandatory 2007 budget targets. In the coming days, as this process is worked out, details on the reorganization of some areas of the edit operation will be announced.

In addition to the elimination of some editorial titles, we need to reduce headcount in the following categories:

Copy Clerk (3)
Edit Assistant (4)
News Desk Assistant (1)
Copy Editor (1) *
Imaging Specialist (1)
Photographer (3)
Writer (6)
Writer-Reporter (1)
Reporter-Researcher (1)
Senior Editor (1)
Photo Editor (1)

In an effort to avoid layoffs wherever possible, we are asking employees from these categories if they wish to volunteer to leave SI with a severance package. You will have until February 1st to volunteer. We will conclude this process over the next two to four weeks.

If you are interested in volunteering or would just like to review your severance pay worksheet to understand what leaving now will mean to you financially, please email REDACTED and REDACTED. Your Worksheet will be available for you to personally pick up at HR Reception on 40** (bring your ID) after twenty-four hours.

* We will consider part-time volunteers in this category. A part-time volunteer would reduce their hours and their pay to half of their current hours and salary and they would be entitled to a part-time severance based on a part time salary. As a part-time employee, you will still be eligible for benefits coverage.

** HR is moving, so after January 26, you can pick it up at HR Reception on the 7th floor.


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