{"id":32261,"date":"2017-06-14T06:28:53","date_gmt":"2017-06-14T06:28:53","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=32261"},"modified":"2017-06-14T06:28:53","modified_gmt":"2017-06-14T06:28:53","slug":"time-inc-cut-300-positions-4-percent-workforce","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/time-inc-cut-300-positions-4-percent-workforce.html","title":{"rendered":"Time Inc to cut 300 positions, or 4 percent of workforce"},"content":{"rendered":"<h2 style=\"text-align: justify\">\n\t<span style=\"font-size:22px\"><strong><span style=\"color:#000000\"><span style=\"font-family:arial,helvetica,sans-serif\">Time Inc to cut 300 positions, or 4 percent of workforce<\/span><\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify\">\n\t<span style=\"color:#000000\"><span style=\"font-size:18px\"><span style=\"font-family:arial,helvetica,sans-serif\">Time Inc (TIME.N) 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.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify\">\n\t<span style=\"color:#000000\"><span style=\"font-size:18px\"><span style=\"font-family:arial,helvetica,sans-serif\">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.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify\">\n\t<span style=\"color:#000000\"><span style=\"font-size:18px\"><span style=\"font-family:arial,helvetica,sans-serif\">Time Inc, like its peers in the publishing industry, has been struggling as print circulations shrink and advertisers shift to digital platforms.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify\">\n\t<span style=\"color:#000000\"><span style=\"font-size:18px\"><span style=\"font-family:arial,helvetica,sans-serif\">Time Inc replaced its chief executive officer and evaluated a sale earlier this year after activist hedge fund Jana Partners LLC unveiled a stake in the company.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify\">\n\t<span style=\"color:#000000\"><span style=\"font-size:18px\"><span style=\"font-family:arial,helvetica,sans-serif\">Meredith Corp (MDP.N) made a preliminary offer to buy Time Inc in April, but the bid fell short of price expectations and ultimately the deal failed.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify\">\n\t<span style=\"color:#000000\"><span style=\"font-size:18px\"><span style=\"font-family:arial,helvetica,sans-serif\">In May, Jana disclosed it had sold its stake in Time Inc.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify\">\n\t<span style=\"font-size:8px\"><span style=\"color:#000000\"><span style=\"font-family:arial,helvetica,sans-serif\">Source:-&nbsp;http:\/\/www.reuters.com\/article\/us-time-layoffs-idUSKBN1942LI<\/span><\/span><\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/time-inc-cut-300-positions-4-percent-workforce.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Time Inc to cut 300 positions, or 4 percent of workforce Time Inc (TIME.N) 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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":32266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[14491,14874,13030,19940],"class_list":["post-32261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business-news-headlines","tag-latest-business-news-today","tag-latest-news-online","tag-time-inc-to-cut-300-positions-or-4-percent-of-workforce"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/32261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=32261"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/32261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/32266"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=32261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=32261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=32261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}