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Revolving Door Newsletter: 10.30.09
Time Inc. Braces For Cuts; Boston Globe Publisher Resigns
October 30, 2009
Time Inc., the company that cut 600 staffers last year, will chop another $100 million in annual costs, primarily through layoffs. The formal announcement is expected on Wednesday, in conjunction with Time Inc.'s third quarter earnings call. As Ryan Tate points out, the $100 million figure represents just 2.7 percent of the company's overall revenue, so chances are good that additional moves are coming. Roughly 20 staffers at People could be among the first to go...