MAIN NEWS HEADLINES
March 29 – April 5, 2007 Edition
Time Lays Off
Shuts Down Life
NEW YORK, NY/3/26/07-Time, Inc. said this week it is shutting down the venerable Life magazine, effective with its April 20th issue. Despite the print magazine closing, Life will continue online as a brand, including news and photos. About 15 editorial workers and 27 office personnel will be laid off as a result. Earlier this year, Time reduced its overall staff by roughly 3%, axing 289 magazine jobs out of a workforce of 11,300.
The magazine, founded in 1936, has been shut down twice during the course of its history, once in 1972 and again in 2000, each time being revived after a several year hiatus. The magazines collection of 10 million images will now be available online.
As part of Times staff cuts early in 2007, bureau offices were closed at Time in Los Angeles, Atlanta, and Chicago, and at People in Chicago, Miami, Washington, D.C., and Austin, Texas. Layoffs were also carried out at other magazine holdings, including Sports Illustrated.
Last September, the company said it would sell 18 of its print magazines, including Field & Stream, Outdoor Life, Parenting, Popular Science, Yachting, and Warren Miller Entertainment. The staff and print-product cutbacks are designed to help the company focus on digital and interactive venues.
Life President Andy Blau and Publisher Peter Bauer will remain with the company. Also remaining will be Executive Editor Maggie Murphy and Managing Editor Bill Shapiro. Ann Moore is chairman and CEO at Time Inc.