The disruption of the business of media by Internet media companies continues, as Time Inc. is expected to announce as many as 500 jobs cuts today, reports Kieth Kelly at the New York Post:
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.