Further to my Marxism 2.0 post… Time Inc. is cutting 100 jobs, according to the New York Times.
It’s cutting 100 jobs because its moving away from print to online. Moving from just publishing magazines to doing web, wireless, events and broadcast with less people? That’s a pretty neat trick. A Time Inc. spokesperson said:
“We’re moving from being a magazine publishing company to a multiplatform media company, and we have to reallocate our assets. The people you need, the investments you need to make, are different if you’re going to be building Web sites and making TV shows and doing wireless deals and events and partnerships.”
Being a multiplatform media company is all very well, but if you let the quality of your core assets, which for Time Inc is its magazines, slip then you undermine the stable platform that you want to leverage with your alternative tiers.