12/09/2013 02:41 pm ET

Time Inc. To See Layoffs In Future

Ben Hider via Getty Images

Time Inc. staffers were informed today that layoffs lie ahead in the New Year, Capital has learned.

The publishing giant has implemented cuts in recent years while reining in costs. Just under a year ago, 500 jobs were slashed from the company, which owns magazines including Time, Sports Illustrated and People.

Read more on Capital New York