Jones Lang LaSalle

Time shedding 80 jobs in latest round of cuts
by Nat Ives

Time Inc. is dropping the axe on as many as 80 employees today in its latest round of cutbacks. The staffers, who were being notified of their fates today, come from both the editorial and business sides of Time Inc., the country's largest magazine publisher. The layoffs come just a month after Chairwoman Ann S. Moore's company reorganization. That cut 105 employees, including top talent like Eileen Naughton, who had been president at the Time Group, and Richard Atkinson, who had been head of the news and information group.

Although Time Inc. owns some of the industry’s most powerful brands, including People and Real Simple, it lives under relentless pressure to improve its profits each year. That hasn’t been easy amid an unsteady ad market, the proliferation of competing media outlets and a slump at expensive heavy-hitters like Time and Sports Illustrated.

Nat Ives is a reporter for AdAge.com.