January 30, 2013
As expected, CEO Laura Lang announced widespread layoffs at Time Inc. today. If there's a silver lining, it's that the number—about 480, or 6 percent of the global headcount of 8,000—was a little less than some press reports put it. In a memo, Lang said the cuts come from across the company in the U.S. and overseas. Less than half the number are based in New York.
Employees have been on pins and needles for months about the expected layoffs.
Lang, who came from digital ad agency Digitas, was pithy in her remarks to employees announcing the layoffs, expressing appreciation to the people being laid off and putting the cuts in the context of the print-centric company’s need to transform itself to become multi-platform. Here's the text of her not
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