We hear Time Inc. Guild members are meeting now regarding pending layoffs. UPDATE: A tipster tells us "Time Inc.'s news division has started their layoffs." Email us details. MORE: The memo People editor Larry Hackett sent out, below.

From: Hackett, Larry - People
Subject: Important Staff Meeting 10 a.m. TOMORROW

There will be a general staff meeting at 10 a.m. TOMORROW in the 30th floor
conference room. All People editorial team members are encouraged to attend.