A pair of massive media organizations announced sizable layoffs Tuesday.
Time Inc., the world's largest magazine publisher, announced it will lay off about 600 employees and Gannett, the nation's largest newspaper chain, said it would cut 10 percent of its workforce, or nearly 3,000.
The layoffs continue a trend that doesn't seem to be ending or even slowing as media companies struggle to turn profits with high costs of newsprint and the shift of advertising from print to online formats. The result is layoffs across the board, consolidating publications, shrinking sections, and efforts to refocus on local coverage.
Time Inc.'s layoffs begin in about two weeks, but none of Time Inc.'s 24 magazines will close. Instead, all publications will be organized into three divisions: news, lifestyle titles, and style and entertainment. It was also reported that Time Inc. would refocus on putting its larger magazines -- Sports Illustrated, People, Time and Fortune -- in alternate platforms.
"We'll have a more centralized management structure that will group together titles that share similar audiences, advertisers and the talents and skills of their staffs," said Dawn Bridges, a spokeswoman for Time Inc. in a New York Times article.
Gannett's layoffs follow McClatchy Co's announcements of two 10 percent workforce cuts since June. It also follows the more than 1,000 employees that were laid off in Gannett's U.S. Community Publishing division since August. None of Gannett's newspapers are expected to close.
Read more about the changes at Time Inc. here.
Read more about Gannett's layoffs here.
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