By: Jennifer Saba
Time Inc. announced today that Andy Blau, president of Life and All You, has been promoted to group vice president for finance and operations of a newly formed business and news cluster. He will continue his duties as president of Life, the newspaper supplement, and All You, a mass-market magazine distributed through Wal-Mart stores.
In his new role, Blau will work with executives Chris Poleway, Ed McCarrick, and John Squires to establish and execute strategy across Time, Fortune, Money, Business 2.0, FSB, Time.com, and CNNMoney.com.
The move is part of a larger restructuring underway at Time Inc. Today the company also announced that it’s cutting 66 jobs, including 40 from the business side and 26 non-guild editorial positions. In addition, the company is offering voluntary buyout packages to guild members, a process that will take place over the next two weeks. The company is targeting roughly 34 buyout packages.
It is unclear whether the cuts would affect any of the non-union jobs at Life, which Time Inc. relaunched as a newspaper supplement in the fall of 2004. In 2005, Life exceeded $120 million in PIB (Publishers Information Bureau) revenues. It currently runs in 87 newspapers.