Nervous times for Time Inc. employees

Time Inc. is expected to slash jobs in order to make the company look more attractive in front of its spinoff from Time Warner (TWX +1.7%) slated for later this year.

Employees could learn as soon as today who will survive the layoffs.

Expect the number of firings to be large. CEO Joe Ripp says it's best to "take the pain" all at once.

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