Time Inc. recently announced plans to cut staff. One of the best write ups I read was in the New York Post, Time Drops Bomb, by Keith Kelly. The article indicates that the staff will be cut to 289. However, I personally know several people over the past weeks who are leaving Time Inc. for one reason or another in addition to the cuts described in the article. For example, one person who was at Time Inc. for over 30 years resigned after being asked. The rumor mill at Time Inc. has stated that around 500 people will be leaving Time Inc. in the near future in one way or another. 500 people works out to around 5% of the total workforce.
As a socialist, I could write a rant about companies who break their social contract with longtime employees. As a capitalist, I could write a rant about companies who have to resort to mass cuts because of poor management. Yet neither rant would allow people to retain their jobs.