FishbowlDC TVNewser TVSpy LostRemote AgencySpy PRNewser GalleyCat SocialTimes

Now Independent, Time Inc. to Cut 25 Percent of Editorial Costs

Time Inc. is officially its own company now, and with that, comes many questions. Is it smart to continue the print edition of Time? What about People? And if People — Time Inc.’s money maker — can’t produce, what hope do other titles have? Also, what about that $1.3 billion in debt? According to The New York Times, the publisher at least has an answer to that one — cutting editorial costs. By a lot.

Last week, Time Inc.’s execs met with editors and asked them to begin the process of cutting 25 percent of editorial spending. That means staffing cuts are coming by the bunches. “In almost every meeting with investors and employees, he [Time Inc.'s CEO Joe Ripp] reminds them that he is constantly reviewing staffing levels,” reported the Times. Hanging the hand of death over staffers is surely going to create a nice working environment.

Not that staffers are the only ones who are worried about the cuts. Ripp has told Time Inc. senior managers that it’s all on them to save their magazines. “I can’t fix it,” Ripp said, in meetings. “You have to figure out a way to fix it.” That, of course, brings up one more question — how do you make repairs with a half-empty toolbox?

Mediabistro Course

Middle Grade Novel Writing

Middle Grade Novel WritingStarting January 15, work with a literary agent to write your middle-grade novel! In this course, you'll learn how to develop strong characters, write compelling dialogue, master the art of revision, and market your work to publishing houses and agents. Register now!