Time Inc. execs warn of layoffs

More job cuts could soon hit Time Inc., company executives told their top 300 managers at a quarterly meeting on Monday.The warning came during a question-and-answer session with Norm Pearlstine, Time Inc.'s newly appointed chief content officer. Asked by Time magazine Managing Editor Nancy Gibbs whether there will be layoffs, Mr. Pearlstine answered "yes" and said the decision would be a difficult one."He spoke compassionately," said one Time Inc. staffer who attended the meeting.Time Inc., publisher of magazines such as People and Sports Illustrated, began the year by cutting about 5% of its workforce, about 500 positions, in its biggest staff reduction since 2008. It is entering 2014 trying to get in shape for its spinoff from parent company Time Warner.Third-quarter revenue at Time Inc. decreased 2% to $818 million, fueled by a 4% decline in subscription revenues and 2% drop in ad revenue.A Time Inc. spokeswoman declined to comment for this story.Contrary to a report this weekend, the spinoff is still on track for the second quarter of 2014, according to Time Inc. CEO Joe Ripp, who appeared at the meeting along with Mr. Pearlstine and Chief Financial Officer Jeff Bairstow. The website 24/7 Wall Street wrote Saturday that the separation will mostly likely be delayed until the second half of next year to give Time Inc. time to overcome poor financial results coming in the fourth quarter.The move, originally envisioned for this year, has already been delayed once.Mr.... Continue reading at 'Crains New York'

[ Crains New York | 2013-12-10 00:00:00 UTC ]
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This Alaska bookstore in Sarah Palin’s hometown isn’t backing down about its drag story time.

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[ Literrary Hub | 2023-05-04 15:21:17 UTC ]
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Jenny Odell on Timing Our Lives in Rhythm With the Earth

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[ Literrary Hub | 2023-05-01 08:52:55 UTC ]
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Harper Design Closed Among More Layoffs at HarperCollins

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[ Publishers Weekly | 2023-04-28 04:00:00 UTC ]
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The Most Influential Manga of All Time

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Freedom to Read Supporters Say It's Time to Get Louder

At an American Booksellers for Free Expression session, panelists discussed different approaches booksellers can take to fight book bans. Among the ideas floated were outreach to government officials, creating library-style “request for reconsideration of materials forms,” and improving Banned... Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-04-25 04:00:00 UTC ]
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Los Angeles Times Book Prizes Winners Announced

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[ Los Angeles Times | 2023-04-22 04:49:44 UTC ]
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Marrying the craft of culture, marketing and technology serves as a true north for progress for brand execs attending Possible

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Sign up for the Los Angeles Times Book Club

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[ Literrary Hub | 2023-04-03 14:34:28 UTC ]
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[ Los Angeles Times | 2023-03-28 21:24:50 UTC ]
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Is Controlled Digital Lending on Borrowed Time?

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[ Publishers Weekly | 2023-03-24 04:00:00 UTC ]
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