Barry Diller’s IAC to Change Name to ‘People Incorporated,’ Plans Layoffs to Consolidate Corporate Functions
Barry Diller's IAC is rebranding as 'People Incorporated' to reflect its focus on the People publishing business and its stake in MGM Resorts. The company plans to lay off 77 employees as part of a consolidation of corporate functions, aiming to achieve $40 million in annual cost savings. The transition, expected to be completed by Q1 2027, will see current People Inc. leadership take over the publicly traded entity.
- ▪IAC is changing its name to People Incorporated to emphasize its focus on the People publishing business and its investment in MGM Resorts.
- ▪The company will eliminate 77 roles as it consolidates corporate functions, achieving approximately $40 million in annual cost savings.
- ▪Current People Inc. CEO Neil Vogel and CFO Tim Quinn will become CEO and CFO of the new publicly traded entity, while Barry Diller remains chairman and senior executive.
- ▪The rebranding and restructuring are expected to be completed by the first quarter of 2027, with the new Nasdaq ticker symbol set to be PPLI.
- ▪People Inc. currently has 3,500 employees, and the layoffs represent about 2% of the go-forward headcount.
Opening excerpt (first ~120 words) tap to expand
Home Digital News Apr 28, 2026 5:51am PT Barry Diller’s IAC to Change Name to ‘People Incorporated,’ Plans to Lay Off 77 Staffers in Consolidation of Corporate Functions By Todd Spangler Plus Icon Todd Spangler NY Digital Editor xpangler Latest ESPN’s Mina Kimes Wins ‘Celebrity Jeopardy! All-Stars’ Final, Landing $1 Million for Her Chosen Charity 16 hours ago Spotify Debuts New Logo: A Disco Ball to Celebrate Its ‘Party of the Year(s)’ 1 day ago Donald Trump Discloses at Least $220 Million in Q1 Financial Transactions, Including Purchases of Paramount, WBD, Netflix, Disney and Comcast Securities 2 days ago See All Stephen Lovekin/Getty Images for IMG More than two decades after Barry Diller established IAC (InterActiveCorp.) as a media holding company, he announced that it will change its…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Variety.
Discussion
0 commentsMore from Variety
