Time Inc. CEO To Lay Off Others, Rehire Self

A new round of layoffs is coming to Time Inc. "in the very near future," sources tell the Post's Keith Kelly. But please don't worry about the top brass, departing magazine staff, because they're doing just fine. They've still got their Caribbean retreats, you'll recall, and millions of dollars with which to buy celebrity baby pictures. And it looks like a surprise contract extension is in store for Ann Moore, the Harvard MBA who saw online revenue grow 76 percent this year, even amid cost cutting. That's probably why she's got enough swagger to gab to the Times of London about the "two-year plan" she keeps right next the contract with 18 months left on it. According to Kelly, she's probably right to feel to secure enough to assume she'll get a renewed mandate:

Time Warner CEO Jeff Bewkes doesn't seem to be taking it out on Moore. What's more, he also doesn't seem to be aggressively looking for a Moore successor...
"She has had a major turnaround in terms of her perception from corporate," said one industry source.

The jury is still out on the cost-effectiveness of baby-picture buys, but the badly-timed Caribbean jaunt with advertisers was probably a necessary evil, and the magazine group could do worse than Moore, who apparently has it well ahead of rivals Hearst and Condé Nast online, drawing 15 percent of revenue from the internet.