Expect to hear more about this tomorrow morning when Time Warner reports earnings:
Stephanie Clifford at the NYT: Layoffs have begun at Time Inc. Approximately 15 to 20 sales and marketing employees were dismissed from Time Inc.’s news group tonight, largely from Sports Illustrated, according to a Time Inc. executive who asked not to be named as the company had not given authorization to discuss the matter.
…The executive estimated the total number of layoffs as being between 400 and 500 people. The largest percentage of layoffs are expected to come from the news division, which includes Time, Fortune, and Sports Illustrated, this executive said.