New York Post
Time Inc. will begin layoffs today — about 500, Keith Kelly reports. In a memo to staffers, Time Inc. CEO Joe Ripp says the company’s plans require “substantive and sometimes painful changes to the way we operate and approach our business.”
All Time Inc.’s U.S. brands “will be consolidated into a single portfolio under two executives, Evelyn Webster and Todd Larsen,” Ripp writes. Executive Vice President David Geithner will leave, as will American Express Publishing CEO Ed Kelly. Mark Ford will become executive VP of advertising sales, Ripp says.
Kelly reports that AmEx Publishing’s Executive Travel magazine will be shut down.