Meredith Closes Time Customer Service; Tampa Loses 600 Jobs
Magazine and broadcasting company Meredith says it's closing a customer service center in Tampa as it integrates the operations of Time Inc., which it acquired last week.Meredith spokeswoman Jenny McCoy says 600 Time workers will lose their jobs as the company switches customer service and renewal processes for Time's magazines to CDS Global, a company providing similar services to Meredith's existing publications. CDS is based in Meredith's hometown of Des Moines, Iowa.
McCoy says CDS will add jobs in Iowa over the next year as the work migrates.
Meredith bought Time for $1.8 billion and expects to save $500 million in the first two years by combining operations.
Meredith serves 200 million consumers with its television stations, websites and magazines, including Better Homes & Gardens, Time and People.