Time Inc. will eventually cut 2.6% of staff winding up with 10,500 employees

[NOTE This post has been updated and corrected.] By the time Time Inc. is through with restructuring, in order to invest the money in its magazine-related websites, the toll is estimated to be about 800+ people from its workforce, according to a story in the New York Times. It cut 600 last year; 289 yesterday and should shed about 530 people when it sells 18 of its special interest publications