Posted on 12/28/2005 8:29:15 AM PST by LdSentinal
TIME Inc. CEO Ann Moore is under pressure to come up with $100 million in cost savings next year, when more than one company insider expects a new bloodbath.
One source said the new cuts could translate into 400 more job cuts early in 2006 a number that accounts for 3 percent of the unit's 13,200-person workforce.
Earlier this month, Moore announced 105 positions would be eliminated, including top executives across the publishing empire and six bureau chiefs at Time magazine.
On the day of the announcement Moore pointedly would not tell senior staffers if the cuts were a one-time event.
That made jittery staffers even more nervous. And since top executives were cut this time, most expected the next round to go deep into middle management and editorial positions at places such as Fortune, Sports Illustrated and other magazines hard hit by the advertising slump, particularly from automakers.
(Excerpt) Read more at nypost.com ...
LOL!!
Or better yet they can just check out KOS daily, and half a dozen boards, to see what will be in the DNC's press releases later picked up by their friends in the MSM.
Economics is the weapon of truthfulness.
Time Magazine is just a shadow of its former self, a propaganda rag for the DNC and the Leftists. Good riddance.
Prediction: Time and Newsweek will merge into a super-liberal magazine.
It's amazing how a magazine started with seed money from Standard Oil monies has evolved into what it is today. It is also interesting when you look at philanthropic organizations that were started by the founders of the very same company and how they have evolved into socialist-agenda pushers. The endowments are astronomical. The boards are made up of ultraliberals who know better than the little people. I think the founders of the philanthropies would be appalled.
Chortle....chortle....chortle.
Some more stories suggesting President Bush is going to be impeached should mean another 100 million in losses. They apparently just don't want any conservatives for readers.
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