BUSINESS INSIDER reports that this once must-read for educated Americans will be laying off 700. Under the Time Inc. umbrella are about 100 titles, ranging from TIME to PEOPLE. For the first three quarters of 2012, revenue has been down 6% and profits 14%.
There could also be cuts at THE NEW YORK TIMES and POLITICO. Working in media has always been a glamour job. For those cunning in playing the game or especially talented there could also be fame and fortune. Now that space has become so volatile. We ghostwriters, who usually are invisible, might be sitting the catbird seat when it comes to predictability in our source of income. In addition, our deadlines don't tend to be as brutal as the ones in media.