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Time Inc. To See Layoffs In Future

NEW YORK, NY - OCTOBER 29:  A general view of the exterior of the Time Life building at 1271 Avenue of the Americas (6th Aven
NEW YORK, NY - OCTOBER 29: A general view of the exterior of the Time Life building at 1271 Avenue of the Americas (6th Avenue) on October 29, 2013 in New York City. (Photo by Ben Hider/Getty Images)

Time Inc. staffers were informed today that layoffs lie ahead in the New Year, Capital has learned.

The publishing giant has implemented cuts in recent years while reining in costs. Just under a year ago, 500 jobs were slashed from the company, which owns magazines including Time, Sports Illustrated and People.

Read more on Capital New York