Obama Recovery Hits Time Inc.: 500 Layoffs Announced

But-but-but "Time Magazine" assured me Obama's economic policies had made it all better:

The Wall Street Journal said that around 500 people will be cut from the world's largest magazine company -- home to Time, Sports Illustrated and People, among others -- though other outlets said the numbers could reach as high as 700. That means that the roughly 8,000-strong workforce would be cut by between 6 and 8 percent.

Time Inc. is reportedly seeking around $100 million in savings from the cuts. Ad sales and publishing and subscription revenues have all declined. New CEO Laura Lang has been tasked with righting the ship.

So the same publication that sold its soul in 2008 to present Obama as the only hope for our economy, begins 2013 with a round of massive layoffs.

So the same publication that assured us Obama trickle-down government policies were the magic beans that would grow us into the lush life, begins 2013 with a round of massive layoffs.

So the same publication that assured us all throughout the 2012 election that our economy was humming and there was no need to find new management, begins 2013 with a round of massive layoffs.

Yeah, that's a shame.

And I'm sure I speak for the millions of chronically unemployed when I say, "Welcome to the economy you dropped on the rest of us."

 

Follow  John Nolte on Twitter @NolteNC


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