Time Inc. sacks 6 percent of workers but keeps the presses running: reports
dpaNEW YORK -- The move comes just a month after Time magazine's long-term rival Newsweek ceased print publication, moving only to digital version for tablets and folding its website into that of its partner site The Daily Beast.
February 1, 2013, 1:01 am TWN
However CNN quoted a Time spokesperson as saying there were no plans to take any of the company's magazines out of print.
Time Inc. is a division of Time Warner and owns some of the world's best known magazines, including Time, Sports Illustrated, People and Entertainment Weekly.
The company employs some 8,000 people around the world and the cuts will hit all area of the company, both in the U.S. and among international staff.