Meredith Cuts Staff; Puts Time, Fortune, Sports Illustrated and Money Up for Sale
by Capitol Communicator | Mar 22, 2018
After announcing it would lay off 200 to 300 staffers, Meredith Corp. announced deeper cuts, numbering 1,000, over the next 10 months, reports MediaPost, which added that the company will cut staff “formerly employed by Time, Inc., which Meredith officially acquired just six weeks ago, per The Wall Street Journal.
“The company has stated that it plans to save $400 million to $500 million over the next two years. The layoffs are part of that plan.
“In addition to the layoffs, Meredith Corp. has now confirmed it is seeking buyers for titles Time, Fortune, Sports Illustrated and Money.”
More here.
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