- Beyonce opts for Indian dress againMughal Gardens to open on Friday'Jism 3' most boldest erotic thrillerRakhi Sawant wants to become a porn star nowDeepika will get intimate with Vin DieselSalman Khan wants children without marriage!Teddy Day 2016 wallpaper, images, greetingsVarun Dhawan to star in 'Judwaa 2'Salman goes clean-shaven in new look of 'Sultan'Preity quashes marriage report again
Nestle has terminated a sponsorship programme with world athletics' governing body (IAAF)
Time Inc to slash hundreds of jobs or 6 percent of staff Last Updated : 31 Jan 2013 08:21:03 AM IST Laura Lang, chief executive at the media unit of Time Warner
Time Inc. said it was cutting several hundred jobs as the US publishing giant streamlines to adapt to a "multi-platform" media landscape.
Laura Lang, chief executive at the media unit of Time Warner, said yesterday that the group was "beginning the painful process" of cutting "approximately six per cent" of its 8,000 staff positions worldwide.
"With the significant and ongoing changes in our industry, we must continue to transform our company into one that is leaner, more nimble and more innately multi-platform," she said in a memo to staff.
"To make this change, we need to operate as smartly and efficiently as possible to create room for critical investments and new initiatives. These reductions are part of this important transformation process."
The company publishes 21 US magazines including its flagship Time magazine, People, Fortune and Sports Illustrated.
It 25 websites and several international magazines including global editions of Time and Fortune and publishing operations in Britain and Mexico. Lang said the job cuts would "come from all areas of Time Inc. across our locations -- both domestic and international" but offered no further details.
The move comes just months after Time magazine's longtime rival Newsweek said it would end its print edition and go all-digital as part of its partnership with the Daily Beast website.
The publishing industry has been grappling with a steep drop in print advertising revenue, steadily declining circulation and the migration of readers to free news online.Source: IANS, Other Agencies, Staff Reporters
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
India's legendary actor Pran, whether playing a negative role or a character part, has alw
- John shares new poster of 'Rocky Handsome'
- Ranveer, Deepika to spend Valentine's Day in Toronto
- Anushka learns wrestling for 'Sultan'
- SRK fined Rs.1.93 lakh for illegal ramp outside 'Mannat'
- Bollywood's all time romantic couples!
- Mallika Sherawat clicks Power selfie with Obama
- Shraddha Kapoor to croon for 'Baaghi
- What do Bollywood celebs fear?
Kristina Pimenova,a 10-year-old Russian girl, has sparked controversy by landing a top mo
Panasonic launches P66 Mega smartphone at Rs. 7,990 in New Delhi on Tuesday.