Time Inc. Chief Lands $1.4 Million Bonus As Company Layoffs Begin: WaPo

While Time Inc. has begun massive layoffs as it prepares to spin off from Time Warner, there is one person who might not be so worried. Chief content officer Norman Pearlstine reportedly is guaranteed by contract to no less than $900,000 per year and a "sign-on bonus" of $1.4 million, the Washington Post's Erik Wemple said Friday. Pearlstine's SEC agreement also includes a possible "long term incentive compensation" of up to $500,000 each year. Meanwhile, Time Inc. began a huge round of job cuts...