LEAVING MONEY: Eric Schurenberg
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, the managing editor of Money, was removed from that post Thursday in a move that a memo from John Huey
linked to “the sweeping changes our company is undergoing.” It is the highest-level editorial cut made at Money parent Time Inc. since the company said it would restructure and cut several hundred jobs at an estimated cost of around $100 million. The cost will appear in its fourth-quarter earnings statement. Jeff Bewkes
, Time Warner’s chief executive officer, said the layoffs will save the company $150 million, beginning next year. A successor to Schurenburg is expected to be named next week, and sources close to the magazine pointed to Schurenberg’s deputy, Craig Matters
, as a prime candidate. Schurenburg won a Gerald Loeb award for Excellence in Business Journalism and a National Magazine award for Personal Service, and during the four years he edited Money, the title saw both a redesign and the exits of several top editors. — I.C.