Maybe like Obama they can blame Fox News and Rush Limbaugh for their failures. Upside: Those laid off can claim unemployment for 800 weeks now.
Tuesday is D-day at Time Inc.
Around mid-morning, staffers are expected to start hearing how deep the cuts will be as Time Inc. CEO Joe Ripp unveils what is likely the last big downsizing before Time Warner spins off the publishing group as a separate company later this year.
“It’s very nerve racking,” said one source inside the company that publishes People, Time, Sports Illustrated and In Style.
The recently acquired American Express Publishing and the London-based IPC subsidiary, are expected to be particularly hard hit.
American Express Publishing, with about 400 people, was taken over by Time Inc. in Oct. The company headed by CEO Ed Kelly has been highly profitable, but many of its production and business operations are redundant now that it is part of Time Inc. and are expected to be on the chopping block.