“I was laid off,” Tracey Altman, publisher of Reader’s Digest, told minonline today.

The Readers Digest Association is in the midst of a restructuring under Chapter 11 bankruptcy protection. Under this restructuring, Altman’s duties will be assumed by her boss, RDA Community president Eva Dillon.

There are hints that this layoff is going to be more unpleasant than most: Min reports that Altman has retained a lawyer “to deal with severance and other legal matters.”

Altman joined Reader’s Digest barely a year ago, in Sept. 2008.