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Archive for June 14th, 2017

When a company cuts jobs, it shouldn’t spin that reality with corporate bullshit

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time_magazine_-_first_cover

Time magazine’s first cover

The owner of the grandparent of weekly news magazines, Time, has decided to shed 300 jobs through layoffs and buyouts to reduce its costs.

A media corporation whacking jobs to save money? That’s not surprising news in the digital era. But what continues to aggravate and irritate is the lame corporate-speak executives use to explain the “downsizing” and to insist better, more profitable days lie in the future.

Consider remarks in a memo to staff from Time Inc.’s chief executive officer, Rich Battista:

[O]ne of the key components of our go-forward strategy is reengineering our cost structure to become more efficient and to reinvest resources in our growth areas as we position the company for long-term success. Today we took a difficult but necessary step in that plan as approximately 300 of our colleagues throughout Time Inc.’s global operation will be leaving the company. …

Time Inc. is a company in rapid transformation in an industry undergoing dynamic change. Transformations do take time and patience, but I am encouraged by the demonstrable progress we are making as we implement our strategy in key growth areas, such as video, native advertising and brand extensions, and as we see positive signs of stabilizing our print business, which remains an important part of our company. [emphasis added]

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Written by Dr. Denny Wilkins

June 14, 2017 at 4:00 pm

Posted in Uncategorized