The world of multimedia, multiplatform journalism should be creating a wave of new jobs in the media. Instead, established media organisations are retrenching, with Time being the latest.
It is cutting 289 jobs – 172 from the editorial side and 117 from the business side across all its magazines, including Time and People.
The job losses are needed to help Time “move quickly into a future of flexible, multiplatform content,” according to a memo from John Huey, editor in chief of Time Inc.
News organisations need to be rethinking what they do. Instead of being defined by the means of distribution, i.e. newspapers or magazines, they need to be defined by what they do, journalism.
But these job losses have been described as a bloodbath.
I can’t help thinking that the cuts are more aimed at maintaining the company’s profit margin of around 18 percent, than improving its journalism in a digital age.
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