We've already seen big cuts this year at Conde Nast now it is the turn of IPC Media parent Time Inc, which is set to announce as many as 500 job cuts today.The New York Times reports that the layoffs begun yesterday at Time Inc when 15 to 20 sales and marketing staff were first to hear the bad news largely from Sports Illustrated.The cuts are part of a plan to save $100m and the NY Times quotes an executive saying that the total number of layoffs as being between 400 and 500 people, which are expected to come from the news division, which includes Time, Fortune and Sports Illustrated.Details of these job cuts are due today at 10am (3pm UK). Other magazines likely to be hit include People and InStyle and Real Simple and Cooking Light. They come after this morning's announcement of a 38% drop in third-quarter profits and a 6% fall in revenues to $7.1bn at parent company Time Warner. Revenues at AOL fell 23% ahead of a planned spin-off that is still on the cards. No word on how this might affect the UK business IPC Media and whether it will be asked to contribute to this cost saving target.A note of light in this job loss darkness is that few job losses will come from the digital business, according to PaidContent.While jobs are going at Time Inc, Rupert Murdoch is cooking up a fresh newspaper war. You just can't keep a good media mogul down. After battling in London and axing TheLondonPaper, Murdoch has decided that New York deserves his attention.He is planning to hire around a dozen reporters in New York to cover local and state news for the Wall Street Journal in its battle to take on the New York Times and transform itself from a business centric title to one that has more general news. This sucks if you are former Boston Bureau staffer for the WSJ. That bureau was closed. One the plus side if you are one of the 100 New York Times staffers due to be axed it might suck less presenting a fresh employment opportunity. One question that strikes me is that in its drive to be more like the New York Times, you know but to the right, will this hit its money making online subscription base. The WSJ has grown because it is errrm not a general newspaper. Could someone explain that one to me? Thanks Elsewhere another barometer for the health of US newspapers has taken a dip. Former New York Times journalist and baseball writer, not to mention pioneer in sports blogging, Murray Chass has noticed a mass fall in US newspaper coverage of this year's World Series between the best team in baseball, the New York Yankees, who lead the Philadelphia Phillies 3-2.On his blog he notes that 29 of the 60 newspapers that cover major league teams during the season on the road as well as at home are not at this year's World Series. That is a huge drop. Last year these papers were all there, but no more.He quotes Bud Selig, the baseball commissioner, saying: "It’s a manifestation of what’s happening in America. I’m saddened by it. I think newspaper coverage over the years has enabled us to succeed much more than a lot of people understand so for me this is a very, very unhappy development."These are big metropolitan newspapers including the likes of the Dallas Morning News, the Houston Chronicle, the Minneapolis Star Tribune, the Detroit Free Press, the Seattle Times and the San Francisco Chronicle, who have made cuts and are no longer covering one of the biggest sporting weeks in the US suggesting more pain to come.
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Gordon Macmillan
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