The layoffs were company wide. AdWeek reports Meredith will outsource some billing and collections, consolidate some internal functions and merge two magazines. According to The Wall Street Journal, the company will keep publishing its EatingWell magazine, while the Cooking Light title will no longer be available by subscription. Cooking Light will be published every other month and sold only at retail store check-out lanes and other newsstands.
A company spokesman told the newspaper Meredith is in extended negotiations to sell Sports Illustrated, Time, Fortune and Money magazines.