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Time Inc. Set For More Layoffs; 200 Expected

Time Inc. Set For More Layoffs; 200 Expected

A sale of Time’s UK division to a private equity firm for $200 million is in the works. That unit publishes magazines such as Wallpaper, Horse & Hound, and World Soccer. (Richard Drew/AP)

By    |   Wednesday, 18 October 2017 09:49 AM

Time Inc. is preparing to lay off another round of employees, with about 200 layoffs expected, according to a Tuesday report in The New York Post.

The layoffs are expected to happen in mid-November, The Post reported.

The company’s stock is languishing despite Chief Executive Rich Battista’s plan to cut $400 million in costs in a restructuring plan.

A sale of Time’s UK division to a private equity firm for $200 million is in the works. That unit publishes magazines such as Wallpaper, Horse & Hound, and World Soccer.

However, the sale of a Tampa, Florida customer service center is not proving successful, according to The Post.

In June, Time Inc. said it was going to cut 300 jobs, according to USA Today.

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Time Inc. is preparing to lay off another round of employees, with about 200 layoffs expected, according to a Tuesday report in The New York Post.
time inc., layoffs, time stock
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2017-49-18
Wednesday, 18 October 2017 09:49 AM
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