Why is Time Inc. firing 600 people and reorganising its magazine business? Because revenue has hit a wall.
“By this October it was looking like 1931,” she said. “[Time Inc.] has never had so many advertising clients in trouble at the same time. The declines are stunning.”
Moore added that she didn’t care if it technically isn’t a recession. “It is one for us.”
And who here’s hoping that November will be better? December? Why, exactly?
And don’t forget that October, November, and December spending was committed months ago (these are just emergency cancellations we’re talking about). So we shudder to think about what is going to happen in Q1.
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