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Media News

Tuesday, Dec 13

Time Inc. Cuts Deep

It's the end of the fiscal year, so time for Time Inc. to lay off 105 employees, including Time president Eileen Naughton and Entertainment Weekly president Andy Sareyan. Chairman and CEO Anne Moore also named Nora McAniff and John Squires co-chief operating officers of the company.

Time Inc. reported $5.5 billion in sales last year, but only 2.5 percent growth, according to Hoovers. Time Warner likes to see those numbers go up! up! up!, so pressure's on for Moore to shuffle up and increase revenue. Is this really the best way to do it? Time (Inc.) will tell.

Continued...


Posted by Aileen | 02:41 PM | Breaking
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