Time Inc. is happy to boast about its online audience, but it’s also acknowledging that Web advertising alone may not be enough these days. So it’s going to start charging readers — or at least start thinking about the notion.
Time Inc. employees know that layoffs are coming, and this morning they were told that the layoffs will cost parent company Time Warner a bundle. Still unknown: who’s actually getting fired. That will change beginning next week, says Time Inc. spokeswoman Dawn Bridges. She says the company will unveil the “size, staffing and structure of each of the business units” beginning “early next week.”
More fuel for the online advertising pessimists among you: Advertising revenues at AOL dropped six percent in the third quarter. Given that those results cover the three-month period that ended Sept. 30, which only included a couple weeks of flat-out economic collapse, there will be worse news in store for the last quarter of the year.
Time Inc. still hasn’t figured out exactly how many people the magazine publisher will fire this fall — the 600 number reported earlier this week, we’re told, is a guesstimate. In the meantime there are plenty of high-level org chart changes, like the departure of Ned Desmond, a longtime Time Inc. vet who was most recent title was President of Time Inc. Interactive. Click through to read Time Inc. boss Ann Moore’s goodbye memo.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
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