Newspapers aren’t the only ones slashing positions to cut costs and boost financial results: Time Inc., led by Chairwoman/CEO Ann Moore, is laying off 105 people including senior publishing execs, and shuffling the top deck. Among those being laid off, according to AdAge.com: Richard Atkinson, EVP-news and information group; Jack Haire, EVP-corporate ad sales and sales colleagues Steve Buerger and Fred Poust; Eileen Naughton, president, Time magazine. (Given the economics of layoffs, have to think more pink slips would be on the way if some of the cuts weren’t so high up on the payroll.)
Promotions: Nora McAnniff, EVP-women, entertainment & luxury; and John Squires; EVP-sports and leisure, will serve as co-COOs, a first for the company. In addition to current responsbilities, McAnniff will oversee corporate sales and marketing and will be, as the press release states, “the Time Inc. executive most directly responsible for the company’s advertising revenue stream.” (Hope she’s the kind of person who thrives under pressure.) Her reports include Robin Domeniconi, who moves from president of Real Simple to corporate sales & marketing, MNI, TMI and Time Inc. strategic communications.
Squires retains responsbility for his existing titles and interactive; he adds Time magazine, the Fortune/Money Group including the upcoming CNNMoney.com, and will once again manage consumer marketing, the company’s “the company’s other revenue stream.” His direct reports include Ned Desmond, Time Inc. Interactive.
Moore (from the press release about the promotions): “This move is part of a larger Time Inc. effort to simplify our management structure, speed decision making and reduce costs. We are reallocating our workload and assets in order to invest in areas of higher growth, including online and new launches.รข
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