In the second major round of layoffs this year, Barry Diller ‘s magazine empire is reorganizing over what it describes as a “rapid” transformation in the media landscape.

His company, People Inc., is cutting 195 staffers primarily in print and website departments, a memo from CEO Neil Vogel to staff stated on Thursday. The firm, formerly titled IAC up until a rebrand this year that emphasizes its flagship title, houses People , InStyle , Food & Wine , Travel + Leisure , Southern Living and Entertainment Weekly and holds significant minority stakes in MGM Resorts and car rental marketplace Turo. The company had 5,156 employees as of its latest 10-K filing last December.

“The rapid changes in media are evident to us all, and require us to be constantly changing as well. We have significantly increased investments in a host of new projects as we continue to align the company with our biggest opportunities,” wrote CEO Vogel in the note to employees.…