From Adweek: As expected, CEO Laura Lang announced widespread layoffs at Time Inc. on Thursday. If there’s a silver lining, it’s that the number — about 480, or 6 percent of the global headcount of 8,000 — was a little less than some press reports put it. In a memo, Lang said the cuts come from across the company in the U.S. and overseas. Less than half the number are based in New York.
Employees have been on pins and needles for months about the expected layoffs, and today’s news brought a mix of sadness and relief. “We’ve been sitting here for months with all the speculation,” one staffer said.
Lang, who came from digital ad agency Digitas, was pithy in her remarks to employees announcing the layoffs, expressing appreciation to the people being laid off and putting the cuts in the context of the print-centric company’s need to transform itself to become multiplatform.
Read the text of her note and the article >>