Two telling quotes from Time Inc's mass sackings (NYT story here).
Denial is eventually exposed as a non-strategy:
Mr. Hackett told employees that the cuts were “brought upon us by some real cold hard facts when it comes to how this business is run, and how media is changing.”
...and a sign that employing lots of journalists doesn't figure when it comes to just relying on capitalising from the clickstream generated by big events:
People magazine’s investments in its Web site, for example, appear to be paying off. After the Golden Globe awards this week, people.com broke its own record for traffic in a single 24-hour period, with 39.6 million page views.