Weeks before the Summer Olympics in London and the start of the National Football League’s training camps, Sports Illustrated is cutting editorial staff through buyouts and possible layoffs.
Terry McDonell, editor of the Time Inc. Sports Group, has asked reporters and editors to volunteer for buyout packages by June 21. Depending on the number of people who volunteer, he will decide whether he has to lay off any of the magazine’s 210 editorial employees.
Mr. McDonell would not provide numbers. In late 2008, when Time Inc. had buyouts and layoffs at several of its magazines, including Sports Illustrated, he had to ask about 40 people to leave out of a staff of 250.
Mr. McDonell said he was making these moves to cut costs and integrate the magazine and digital properties. Buyouts and layoffs could extend beyond Sports Illustrated and SportsIllustrated.com to its children’s editions and swimsuit issue, and to publications like Golf Magazine and Golf.com.
“Unfortunately, there will be some pain in this, meaning the reduction of staff,” Mr. McDonell said. “At this point I don’t know what the number will be but I do know that it will be substantially smaller than what we’ve done in the past.”
Posted: June 18, 2012 at 03:35 PM | 21 comment(s)
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