Time Inc. plans big new bonuses for execs, ahead of acquisition

Man walking past shadow of Time Inc. headquarters in lower Manhattan.

Time Inc. has decided to pay out $2.4 million in cash bonuses to top executives, in what appears to be in direct opposition to previously-approved compensation plans.

Bottom line: The bonuses are sure to stick in the craw of rank-and-file who are worried about losing their jobs when Time Inc. is acquired later this year by Meredith Corp., at a stock price below where shares were trading at this time last year.