Time Warner Inc’s popular business magazine Fortune is planning to publish fewer issues annually and make other changes that could result in job cuts,says a media report.
“Fortune is planning to publish about one-quarter fewer issues annually and make other changes,joining the ranks of publications scrambling to reinvent themselves in the advertising downturn,” The Wall Street Journal said.
According to the publication,Fortune’s new publishing schedule is part of a remodelling at the magazine that is expected to result in staff cuts and a sharper focus on the long stories that have been its trademark.
However,it is not clear yet how many people might lose their jobs.
Fortune would publish 18 times next year,down from 25 times this year,with two issues in some months and just one in others.
Besides,it would focus more deeply on fewer topics and add new columns to help business professionals do their jobs more effectively. In addition,it would have a cleaner,less cluttered look and an upgraded website.
The revamp is a prelude to broader staff cuts at Time Inc,the Time Warner Inc magazine unit that includes Fortune,the report said citing people familiar with the matter.