Sports (Non)Illustrated?

Interesting article that I just came across in the Sports Business Journal.....

It seems that Time Magazine company, which owns Sports Illustrated, is planning to severely cut its staff by December 1st. To avoid flat-out layoffs, the company is seeking 40 Sports Illustrated employees to volunteer to take the company's buyout program.

Here is part of the announcement:

Sports Illustrated needs 40 bodies gone within two weeks, says managing editor Terry McDonnell:

For the reasons outlined in Ann Moore’s reorganization announcement of 10/28/08, the Sports Illustrated Group will reduce the size of its staff across all properties. At the magazine, we will reduce staff in the following guild-covered categories:

• copy editors
• photographers
• designers
• photo equipment technicians
• picture catalogers
• picture researchers
• reporter-researchers
• research assistants
• writer-editors
• writer-reporters

A number of jobs not covered by the guild will also be eliminated at the magazine and across the group.

Approximately 40 guild and non-guild volunteers are needed over the next two weeks to avoid involuntary job eliminations. If the number of volunteers falls short by Monday, December 1, involuntary layoffs will begin.”

As you read this, what are some of the factors that you think might have caused a giant company like Time to have to make substantial cuts?

The entire article can be read here.

Be good.

Mr. E