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US publisher Time.Inc, whose titles include Time magazine, People, Sports Illustrated, and InStyle has reportedly called in McKinsey to suggest ways it can ‘re-engineer’ itself. The news comes after the troubled business announced in April that it would not, after all, sell itself, but would instead seek to rationalise its portfolio of products.This is thought to include committing itself to saving $100 million in costs by next year, and selling some of its other titles.

A source claims that currently plans to offer a voluntary round of buyouts to employees with ten or more years’ experience, and that depending on how come forward, it would then go to non-voluntary layoffs. The news was broken by The New York Post, although Time Inc. has itself not commented on this, and has neither confirmed nor denied the impending presence of McKinsey.

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Peter Crush for

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