Business

Ax falls again at Fortune magazine

Time Inc. revealed some of the long-rumored layoffs in its editorial ranks only two days before Thanksgiving.

About 15 people were let go today in the Fortune newsroom because the company didn’t get enough volunteers last week. About 10 to 15 people had stepped up to take voluntary buyout packages, the most senior person being executive editor Steve Koepp.

Unlike past cuts, which hit staff writers the hardest, this one was concentrated at the top.

Three assistant managing editors were ousted: John Brodie, who had edited bestselling author and Fortune contributor William Cohan; Brian Dumaine, who edited the recetly folded Fortune Small Business; and Eric Gelman. A fourth AME, Lee Clifford, put in for a voluntary buyout last week.

Business-side cuts happened two weeks ago.

Time Inc. is said to be looking to cut more than 500 jobs. Sources had told The Post that the layoffs would be most severe in the division that includes Fortune, Sports Illustrated, Time and Money.