Saturday, January 20, 2007
Joining the rest of the pathetic American media, Time Magazine is laying off people left and right (more left than right), because their silly magazine is not selling as well as it once did.
How Many? 289 Out at Time Inc.
Today's job eliminations at Time Inc. totaled 289 mostly editorial posts after all was said and done, including layoffs at crown jewel People, flagship Time and other magazines from Entertainment Weekly to Sports Illustrated.
Time Inc., the country's largest magazine publisher, spent the morning telling hundreds of staffers their jobs were being eliminated -- in its latest and largest yet round of staff cuts -- for the company's good.
"As you all know, the past year has been a time of transition at Time Inc.," said Chairman-CEO Ann S. Moore in a midday memo to staff. "While we continue to invest in our core magazines, we are also focused on transforming our work force and broadening our digital capabilities in order to become a truly multiplatform publisher.
There it is: "a time of transition." That is liberalspeak for "profits are way down because our magazine sucks real bad."