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Elijah Wood for Oliver Peoples... InStyle Weddings Shuttered... Time Cuts...

Elijah Wood stars in Oliver Peoples film. ALSO: InStyle Weddings ceases publication and more cuts at Time.



TIME CUTS: Elsewhere at Time Inc., another round of staffers was let go on Tuesday. At Fortune, about 14 people were let go, including three assistant managing editors, because the magazine didn’t get enough volunteers to accept buyout packages. In all, about 20 people will leave the magazine. Also, Sports Illustrated will part ways with about 10 staffers across the group, including SI Kids, Golf and their related Web sites, most of which went voluntarily. But the involuntary departures were mostly at si.com.

Fortune and Sports Illustrated were believed to be among the hardest hit of the magazines in the company’s latest round of layoffs, which has cut nearly 400 employees this month as Time seeks to cut $100 million in costs. Time magazine and People didn’t have layoffs Tuesday, as both titles were said to have reached their goal of voluntary buyouts. Time had wanted a dozen volunteers. At People, about 15 employees have volunteered to take the package, including staffers across editorial, art and photo. More than half of those had been with the magazine for more than 10 years. People had been looking for just eight volunteers to take packages. Among the bigger names said to be leaving the magazine include film critic Leah Rozen. Rozen had been with People since 1991 and also has a weekly segment on CNN’s “Showbiz Tonight.” — Stephanie D. Smith

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