Time Inc. to cut around 300 jobs

Time Inc. to cut around 300 jobs

Time Inc. has said that they are cutting around 300 jobs in their operations as they aim to revamp its huge portfolio of magazines including Time, People and Sports Illustrated.

The company faces a huge challenge considering more and more people are turning on to the internet for getting their dose of information.

Time has informed its staff Thursday that it was eliminating 289 jobs in various departments across the company.

This job cut would bring Time Inc.’s payroll down to about 11,000. They would eliminate 172 jobs in their editorial side of the magazines. Another 117 cuts would happen in their business side.

Time Inc. would also be closing down its bureaus in Atlanta, Chicago and Los Angeles as part of the cuts.

John Huey, the editor-in-chief of Time Inc. said in the note sent to employees that the cuts are not about performance of the individuals involved.