Time Warner's Time Inc. will lay off up to 700 staffers out of just under 8,000 total as the publisher's new chief struggles to transform famous titles and massive market share into a digital profit center.

Read more: http://www.businessinsider.com/time-...#ixzz2Hp0OzQNt

Their readership is way down, ads drying up. And now they are cutting staff. Too bad - so sad.