According to Adweek, staffers at Time Inc. are awaiting news regarding layoffs. And as per a recent memo, bleak news was announced regarding bonuses.

Apparently Laura Lang, CEO, indicated in a memo that the typical three percent merit increase for employees will be eliminated.

Layoffs have unfortunately been in Time Inc.’s history the past few years. Since 2008, as per the piece, they had a reduction in force of more than 1,000 employees. Looming layoffs are anticipated to be in the hundreds as a result of continuous declines in revenue.

Although the memo indicated the company gained ad market share and outperformed the industry, the past year it lacked a chief consumer marketer. Stay tuned…

Yesterday we wrote about Time Inc.’s attempt at creating a personal magazine called Mine. Today we have an update on the story. According to Folio, Time Inc. is already running into problems with personalizing content.

An e-mail went out early this morning to all Beta testers warning that their personal content might not be just what they ordered. Time Inc. Media Group president Wayne Powers, warned subscribers that a “computer error” may have affected the content in the first issue. “It’s possible that this issue did not contain the combination of magazine content you selected,” wrote Powers.

Computer errors!? With only 31,000 subscribers? That seems like an epic fail whale to me. Unfortunately, Power’s e-mail is neither as cute nor as witty as Twitter’s fail whale. Check out the e-mail after the jump.

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When they announced back in March that they were launching a customizable magazine, most journalist were a little dubious of Time Inc. new venture. Now out with its first test run of 31,000 copies, journalist Bill Mickey reviews Mine, review his personal magazine from Time Inc.

The first thing he notes is that he felt constrained by the choices that were suppose to tailored to his interest. The only magazines to draw articles from were Travel + Leisure, Golf, In Style, Money, Real Simple, Sports Illustrated, Time, and Food & Wine.

He chose article from Real Simple, Food & Wine, In Style, Sports Illustrated, and Golf. The result was a 36 page magazine drawn from content published in these magazines between the years of 2007-2009. The articles were literally taken from the magazine themselves, leaving “breaking pieces” that were woefully out of date. “A ‘breaking news’ infographic points readers to Euro 2008 online coverage,” writes Mickey “And a profile of LPGA golfer Natalie Gulbis is a follow-on from her 2007 Evian Masters win.” Further users can not choose topics from the magazine. As Mickey points out, though he likes sports, SI still covers a wife array of topics. The articles in Mine are selected by a group of editors for the reader, so you still may not receive a magazine that does not specifically speak to your particular interest in that area.

Check out the pictures of Mickey’s Mine after the jump.

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