More Media Layoff/Shutdown Roundup: Time Inc., Forbes, NBC Universal, IAC

f you had any romantic notion that the beginning of holiday season meant an end to media layoff season, think again. In addition to the 850 Viacom (VIA) workers who are getting pink-slipped, this looks to be a particularly bad few days at Time Warner’s (TWX) Time Inc., where many of the titles that asked workers to quit last month will now be firing them instead.

The New York Post’s Keith Kelly has already reported that layoffs are in motion at People, Time and Sports Illustrated over the next few days; I am told that cuts are also coming to Fortune magazine today or tomorrow. Here’s a Sports Illustrated employee’s take on the situation there:

We are all expecting the hatchet Thursday or Friday. Morale is dismal. One colleague of mine, uber golf writer John Garrity, told several of us that he’s taking the package but will continue on for a while as a special contributor. We expect two or three photo editors to go, and two or three members of the Sport’s Illustrated Latino staff (the Spanish language SI publication, which posted a net profit of approx. one million in ’07 and broke even in ’08, was inexplicably shuttered). Also photographers are rumored to be being cut to half time service and members of our copy desk have been asked to take up to a 30% pay reduction for which they will work fewer hours. Charlie Leerhsen, one of our two executive editors, told a few staff members that he was going to be leaving.”

In other layoff/shutdown news:

I am told that Forbes (where I worked for many years), is in the final stages of planning cuts as it prepares to merge the editorial operations of its magazine and Web site units. Last month the company began integrating its business groups and laid off about three dozen people in the process.
GE’s (GE) NBC Universal has laid off at least 30 people in its sales group, reports AdAge. The cuts are part of a previously reported mandate from NBC CEO Jeff Zucker to cut three percent of the company’s budget. The Post says another 80 people could be fired at CNBC.
Barry Diller’s IAC (IACI) is breaking up its programming group, which includes ventures like College Humor, 236.com and Tina Brown’s DailyBeast.com. Some but not all of the sites will be closed down or sold off. PaidContent has details.
As always, I value reader input: You can reach me directly at peter@allthingsd.com.

THINK PINK AT NBC

HOLIDAY LAYOFFS BEGIN

By PETER LAURIA

NBC Universal yesterday initiated the layoffs CEO Jeff Zucker warned of in October, spreading the pink slips across all of its units so that none of them lost more than 100 employees.

Sources familiar with the situation said Universal Pictures is expected to lose about 70 people, while NBC's 10 owned and operated television stations would shed between 40 and 50 employees.

The Post reported yesterday that CNBC was on the hook for 80 job losses, but sources inside the network say that number was closer to 55 after the head of the network pleaded his case directly to Zucker. (More on the CNBC cuts in Media Ink, p. 50.)

The newly acquired Weather Channel, which NBC bought in July for $3.5 billion, is also expected to lose some positions, though a precise number couldn't be learned.

The Peacock network's news division is likely to be the hardest-hit because it is the company's largest unit.

In addition to layoffs at its Los Angeles and Dallas bureaus, sources said the "Today" show, as well as "Nightly News" and "Dateline," would all be losing staffers.

Some of those departures are the result of voluntary buyouts or retirements, one source noted.

In the past, MSNBC has shouldered most of the news division layoffs, but this time around isn't expected to be as bad for the network, if only because it has been "cut to the bone already," said one insider.

News division staffers have always been particularly sensitive about job cuts mandated by corporate - almost to the point of feeling singled out - since Zucker is an old news guy.

"It's really sad to see Jeff turning his back on news since he owes his career to it," said one source close to the news division.

In total, 500 people, or about 3 percent of the company's workforce of 15,000, are being let go.

The move is expected to save NBCU $500 million, or about 3 percent of its operating budget for 2009.

Other initiatives are also underway to cut costs, including cutbacks in travel, entertainment and promotion budgets.

The layoffs at NBCU come as parent company General Electric grapples with an economic environment that has wreaked havoc with its GE Capital unit, which is one of its biggest.

Still, GE reaffirmed that it will keep its dividend, which runs at about 8 percent per year.