Next week likely to determine who goes at Birmingham operation
Time Inc. plans to cut 6 percent of its 9,000-member workforce before Thanksgiving, according to a report today in the New York Post. Its Birmingham-based Southern Progress is expected to dole out pink slips as soon as Thursday, say company insiders. Time Inc. will release third quarter earnings on Wednesday.
The scale of the layoffs means Time Inc. holds the distinction of the biggest mass firing in publishing this year, outpacing the 460-plus involuntary terminations at rival Condé Nast.
As previously reported, Southern Progress has cut 41.4 percent of its Birmingham staff in the past 12 months, eliminating 290 positions. However, this quarter’s cuts are expected to go deeper …
The Birmingham, Ala.-based Southern Progress, whose flagship title is Southern Living, escaped major hits in the round of layoffs unveiled in the fourth quarter of last year. The division … will not be so lucky this time around, sources predicted.
Southern Progress also oversees Cooking Light, Health, Coastal Living and Sunset magazines and Myhomeideas.com and Myrecipes.com. It closed Cottage Living and Southern Accents magazines and sold Southern Living at Home.
Time Inc. cut 6 percent of its 10,000-member workforce in 2008. All Southern Progress titles lost ad revenue between the third quarter of 2008 and 2009.
Read more stories on Southern Progress.
Update Nov. 3: The New York Times reports Time Inc. has begun layoffs at Sports Illustrated, and that layoff meetings begin Wednesday morning at other titles.
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