Fortune magazine to tighten its belt

Posted by Lisette García on October 23, 2009 at 10:21 AM

Time Warner Inc.'s business magazine will reduce the editions it publishes each year by more than 25 percent, Reuters India reported today. The reduction in editorial content comes as journalism advertising continues to struggle out of a yearlong slump. Yahoo! India reported today that management declined to comment on the matter, but that the company expected to cut some 600 jobs across various publications, amounting to more than six percent overall.

This is Time Inc.'s second round of layoffs in the past year, according to Bloomberg. In November 2008, the company cut as many as it expects to dismiss this year. The Wall Street Journal reported today that unidentified sources revealed that those scheduled to be laid off will be advised in the coming weeks. Part of Fortune's overhaul will also include an upgrade to the Web site, the Wall Street Journal said.