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Time Inc to cut 300 positions, or four percent of workforce - memo

Reuters  |  NEW YORK 

NEW YORK (Reuters) - Time Inc said on Tuesday it is eliminating 300 positions, or 4 percent of its workforce, through layoffs and buyouts, according to an internal memo reviewed by Reuters.The cuts were being made as the New York-based media company, which publishes dozens of magazines including Time, Sports Illustrated and Fortune, is looking to cut costs and reinvest in growth areas, according to the memo from Time Inc Chief Executive Officer Rich Battista to employees. Time Inc, like its peers in the publishing industry, has been struggling as print circulations shrink and advertisers ...

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First Published: Wed, June 14 2017. 01:15 IST
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