Time Inc. this week announced the company is undergoing a reorganization that seeks to cut costs. Some veteran execs are leaving the company, others have been given new jobs and responsibilities.
According to Mediaweek, CEO Ann Moore said Time Inc.’s 24 U.S. magazines will be grouped into 3 units, a move that’s expected to generate hundreds of layoffs. When she spoke yesterday at the Audit Bureau of Circulations meeting, she said the revamp would make the company more efficient, improve collaboration and enable faster decision-making.