The New York Times reports that US company Time Inc. is set to cut approximately 100 jobs, 10 of these will be eliminated at the company's flagship publication Time magazine. Both editorial and business side job cuts will take place at a number of the company's other US magazines, including Money, Fortune and Sports Illustrated. 

Dawn Bridges, spokeswoman for the company, explained that "The current round of cuts is largely because of reallocation of resources as the company increases its online presence and consolidates some of its business functions ... we're moving from being a magazine publishing company to a multiplatform media company, and we have to reallocate our assets."

Source: The New York Times