Rumor and speculation have been confirmed — Time Inc. has eliminated another 250 jobs today, making this the company's largest (and hopefully last) round of slashings.

Ad Age reports that it was the mid-level and junior-level staffers, mostly (as predicted) from the biz side, who were handed pink slips. So far though, no reports of boxes and bags on desks, or handshakes from Ann Moore, the CEO behind the job elimination team.

According to the Time Inc. talking head assigned to this beat, the job eliminations aren't just about not wanting to pay people. They also have to hire 50 sure to be really well paid people to develop their web operations.

"But it's not just about cost cutting," Ms. Zelenko added. "We are allocating our assets and investing in areas of higher growth."

Lots of re-organization, consolidation, and regrouping is going on over there, too, which we're sure is being led by the highly put together staff of Real Simple.

The entertainment group of People and Entertainment Weekly along with the women's lifestyle group including Real Simple, In Style, Parenting and Essence are all being restructured.

Hmm, we're sort of out of places where these recently fired people can find a job, though … considering about 100 magazines folded in five minutes this week. And the mags that are alive are only hiring porn stars.

TIME INC. LAYS OFF 250 [Nat Ives, Ad Age]