Tough Days at Time Inc.

Downsizing at Time Inc. becomes real today; People mag is looking for 18 volunteers to take buyout packages, while Sports Illustrated is looking for 40 across its properties.

Given that the company has set aside $100 million for severance this, of course, is probably only the first round of cuts; the memo from each title only talks about union-covered employees, and some higher-level staffers will likely be cut as well. Sorry to see anyone lose their jobs, especially in this economy.

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  1. Time Inc. to Employees: Want to Quit? We’re All Ears | Peter Kafka | MediaMemo | AllThingsD

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