|MEREDITH CEO STEVE LACY|
Not even Meredith is safe from having to layoff some staffers. The company said it chopped 40 jobs or 1% of its workforce in what it says is part of broader reorg that included some promotions. Of the 40 people who were let go, half of them were in New York. This follows behind a record second quarter for Meredith and a report last month that they officially reached out to Time Inc informing that company’s leadership and board that it is interested in a merger. However Meredith CEO Steve Lacy played it down at a recent event saying:
“As we’ve consistently stated, we continue to explore opportunities to add attractive print, broadcast and of course digital brands to our media portfolio. We have a consistent track record of being very disciplined acquirers. But just like any other public company, we’ll not comment on market rumors or market speculation.”
That statement didn’t quelch speculations at all, it only fueled them and so with these layoffs following a record quarter, all eyes will definitely be on Meredith and Time Inc leading into the spring.
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