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Time Inc to slash hundreds of jobs

Published on Jan 31, 2013 6:06 AM
 
 People walk in front of the Time Warner Inc. headquarters building in New York. Time Warner Inc is considering selling its New York headquarters and has asked real estate brokers to evaluate the building's value, according to two sources familiar with the situation. -- PHOTO: REUTERS

NEW YORK (AFP) - Time Inc said on Wednesday it was cutting several hundred jobs as the United States publishing giant streamlines to adapt to a "multi-platform" media landscape.

Ms Laura Lang, chief executive at the media unit of Time Warner, said the group was "beginning the painful process" of cutting "approximately six per cent" of its 8,000 staff positions worldwide.

"With the significant and ongoing changes in our industry, we must continue to transform our company into one that is leaner, more nimble and more innately multi-platform," she said in a memo to staff.

"To make this change, we need to operate as smartly and efficiently as possible to create room for critical investments and new initiatives. These reductions are part of this important transformation process."

 
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