Layoffs at Time Out NY?

Listings 'n sex stories mag Time Out New York has been having money troubles on and off for several years now. All has been quiet lately, though, until today: a tipster tells us that TONY had very significant layoffs today. "Supposedly it all started with a friendly all staff meeting to let employees know they'd know by the end of the day if they were affected," according to our tipster. We've emailed TONY, and we'll update with their response. In the meantime, if you know more, email us.

UPDATE:
Another TONY source tells us the rumors are "100% true," and estimates the layoffs at at least 25% of the total staff, including "EVPs, CFO, CTO," and others.

UPDATE 2: TONY's comment is "no comment."