Another day. Another series of publishing layoffs to report.

On Monday, Time Inc. asked some 100 editorial employees at its Newspaper Guild-covered magazines - People, Sports Illustrated, Time, Fortune and Money - to accept buyout packages. Reportedly, the staffers have two weeks to voluntarily accept or reject the financial packages before people are asked to leave their posts.

Sports Illustrated is said to be hit the hardest, with 40 Guild and non-Guild edit employees, including a combination of reporters, writer-reporters, researchers and designers, need to be cut from the roster at SI, Golf, SI Kids and their Web sites.

The payoff for firing people during a recession? Well, the layoffs will save Time Inc. upwards of $150 million. And there you go.

[via WWD]