Economy Depresses, Time Warner Restructures

December 2, 2008

“Challenge unlike we have seen before”

 

According to an article by the Financial Express, Time Warner faces challenges because of the recent fall in the economy. It plans to restructure, which will cut approximately 600 jobs.

“Industry conditions have been challenging due to the financial crisis, which has produced sharp decreases in advertising spending. This is expected to continue through most of 2009,” Time Inc Chairman and Chief Executive Ann Moore wrote in a memo on Tuesday to employees that was obtained by Reuters.

She said it was a challenge “unlike any we’ve seen before.”

There has been an increasing decline in advertisement spending in U.S. magazines and newspapers. People would rather read free information online than buy it in print. (Here we are reading and writing blogs as they speak!)

This will affect popular magazines, but they will not be closing any of them at this time. The information is not permanent right now, changes differ from day to day with each decision made. The number of employees cut may be between 300-600. The company is also talking about selling their AOL unit to Yahoo.

The positive aspect of this restructuring will be that they will have more opportunities to focus on their Internet-based publics. The plans are to categorize the 24 magazines and websites into three umbrellas: news, style and entertainment, and lifestyle properties.

Positive for PR majors: “Time Inc also will create an advertising sales and marketing group to handle sales across all of Time’s magazine brands, something Moore said was critical because of the difficult ad sales environment. The unit will be run by Stephanie George, also a Time executive vice president.”

http://www.financialexpress.com/news/time-warner-plans-restructuring-to-axe-600-jobs/378948/2

http://www.timewarner.com/corp/newsroom/pr/0,20812,1008327,00.html

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PR in Real Life

November 1, 2008

I thought I should write about my recent experiences with PR in real life. I am soon to be writing about our GSU PRSSA’s trip to National Conference in a more educational format, but for now- Let’s talk about the personal side of it.  PR in real life- its sticky, messy and is often conflict management.

When in a large group of people for more than one day, namely women, it seems that conflicts arise. I just wanted to write about the idea of using our communication classes and skills in our lives in a way that is not only professional and educational. We learn about listening, telling the truth even when it isnt pretty (but in a way that will bring positive to the situation), and respecting our colleagues. However, we forget that our colleagues are our peers and fellow students- our careers have already begun.

Lessons that I have learned on this topic: Do not gossip about your peers or fellow students/ employees- It only reflects badly on your own character, Listen before you react to someone else’s attitude or your perception of them- You dont always know them well enough to read into actions or words, and most importantly- Treat others how you would want to be treated- a simple concept that is so often forgotten in real life