Business

Depressing Quotes From Recession '08: Time Inc. Edition

To complement the onslaught of depressing publishing news this week, Time Inc. CEO Ann Moore announced yesterday that it’s starting to look like the Great Depression over at the Hearst building. Ignoring her prepared text, Moore began her keynote at the ABC Circulation Conference at New York’s Waldorf-Astoria by walking attendees through the newly announced […]

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To complement the onslaught of depressing publishing news this week, Time Inc. CEO Ann Moore announced yesterday that it's starting to look like the Great Depression over at the Hearst building.

Ignoring her prepared text, Moore began her keynote at the ABC Circulation Conference at New York's Waldorf-Astoria by walking attendees through the newly announced restructuring at Time that will result in about 600 job cuts, according to Folio:

“By this October it was looking like 1931... [Time Inc.] has never had so many advertising clients in trouble at the same time. The declines are stunning.”

And Moore doesn't care if current economic conditions technically qualify as recession. "It is one for us," she said.

Moore left without taking questions, but she had a few more cheery words before leaving the room:

“Throw out your neat little five year plans and adopt a two-year one... Time is better prepared now to offer more value and better solutions in the coming months, and looks forward to working with all of you.”

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