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Time Inc. Looking For Buyout Volunteers Before Commencing Mandatory Layoffs

20070126timelife.jpgWe’re beginning to get more details about where the 600 layoffs Time Inc. announced last month will land. Over at All Things D Peter Kafka is reporting that managing editors at Time, People, Sports Illustrated, Fortune, and Money — all of which employ Newspaper Guild members — will send out memos today “detailing some of cuts, and will ask for volunteers for a buyout program.” Kafka has a number of the memos further detailing the cuts and where they will come from, but here’s an overview:

All of the memos end thus: “The call for volunteers expires on Dec 1. If necessary, after that we will follow the Guild contract procedure for conducting involuntary layoffs in Guild categories.” Except for Time which gives a November 24th deadline.

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