Report: Time Inc. Axing 600 Amid Major Reorg

D-Day has arrived at Time Inc. The Time Warner-owned publisher is set to announce the elimination of 600 jobs -- around 6 percent of its workforce -- and a major reorientation in the way it does business, reports The New York Times..

Shuffling the deck is nothing new at Time Inc., of course; indeed, it seems to be management's answer for everything from sagging ad revenues to the common cold. But this reorganization sounds like a pretty big one, involving a "more centralized management structure" and plans to share resources between titles.

Writes Tim Arango, "Power within Time Inc., which through many mergers over the decades became the modern Time Warner, has long been diffuse, with individual publishers and editors essentially running their own shows. That distinct culture is coming to an end."