New York Times:
Signaling that worse times are ahead for magazines, Time Inc. is expected to announce next week that it will cut $100 million from costs, including another big round of layoffs.
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I hope that one day Time Magazine attains the the same level of credibility that People Magazine has.
That would be a huge step upward.
People has a better following....its all news...not opinion....
But but but... Obama said that if we passed the $787 billion Stimulus Bill that unemployment would not pass 8% and now we are at 9.8% and rising. And I thought the recession was over according to the Obama Administration. Obama would not be l.ying to us, would he?
Unemployment will continue to rise while GOP blocks all reforms & brings nothing to the table.
Under McCain it would have been the Second Great Depression.....
Where is the stimulus??
With the Obamas. Its in the $25,000 taxpayer funded date to NYC for Obama and Michelle, at the $20 million beachfront estate they vacation at, in the $7,000 a night hotel suite for his UN stay, in the separate 757 jumbo jet that MIchelle flew on to the Olympics that was separate for the 747 Air Force One jet that Obama took, its in the golf courses of the 24 rounds of golf that Obama has played this year and the weekly Wednesday night parties at the WH. Main Street being stepped on.
Great.
So how many more before he catches up to W?
At least he's not clearing brush at some hellhole in TexAss, ....
Every container that lands on America's shores is weighed to the pound, and the value of the imported goods manufactured offshore is tariffed and taxed to the dollar ... but there is a Hindenburg of service jobs offshoring going on by secret dark fibers reaching like a cancer into every corner of America, any job you do with a computer can be offshored, and there are no tariffs, no taxes, no withholding, no insurance, nothing but pure Wild West Mumba.i Stampede of millions and millions of American service jobs being performed halfway around the world via internet.
I've seen entire office closed and their booked client hours zipped into a file and e-mailed away to waiting studios of English speaking professionals and subprofessionals waiting to do the same work for 1/2 to 1/3 what an American employee costs, not counting the office lease space and cubicle furniture and PC.
This is a tsunamai in plain view, and nobody is paying any attention whatsoever.
Hey, it's free-market capitalism! Sink, or swim, baby! $12 a hour? Do I hear $12.50? Going once...
soon every American will be urged to work for minimum wage, and we'll wonder why $40,000 cars and SUVs are no longer selling....
100 million doesnt buy what it used to.
make it more like 2-3 billion and make the cost cuts count. 100 million probably wont cover just the building maintenance costs !!
More hard times in GOP depression #2, and I bet most ceo's are repubs and are doing this to hurt the dems hoping people will be dumb enough to vote for the rightwing party again, the ones who got us into this spot in the first place.
Just an aside...but I wonder how much the top exec make at Time, Inc.? Enough to take a fair pay-cut and save a few hundred jobs?
Again, just a thought.
execs...plural.
Time like all news media and magazines will achieve their results on the backs of college students. Over the past year or so media organizations have been firing lower level people and replacing them with a cadre of college students who will work for free (or so called college credit) in the hope of getting their foot in the door. Sadly these students are rarely hired because they are easily replaced with a new fresh faced interns. Funny how the media does not report on its own abuse of employees.
Why don't they just cut the executive compensation packages of their top five to a dollar a year and not lay anybody off. That ought to just about save $100 million, plus it might convince the useless fat at the top to jump ship.
Cutting costs - "big round of layoffs" translation = death spiral.....
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First Posted: 10-29-09 07:54 PM | Updated: 10-29-09 08:11 PM