Time Inc. CEO Ann S.Moore announced another restructuring of the company's editorial divisions late last year. The reorganization, which was still ongoing at press time, is expected to result in about 600 layoffs, or roughly 6 percent of the media firm's workforce.
Moore aims to centralize the management by dividing its 24 magazines and their web properties into three units: news, entertainment and lifestyle. She says she hopes that this will lead to cross-collaboration between reporters and editors at various magazines. This is the third reorg under Moore since her appointment as CEO in 2002.
The entertainment unit, which will encompass its People and Entertainment Weekly magazines, will be headed by Moore. The news unit, overseen by John Squires, will include Time, Fortune and Sports Illustrated. Lifestyle will include Real Simple and will be run by Sylvia Auton. The restructuring also created two marketing and sales groups, under Stephanie George and Brian Wolfe.
Layoffs also hit Time Inc. in early 2007, when approximately 300 people left the company, and again in 2008, when Time sold several of its magazines to Bonnier Corp.