A unit of the country's biggest media company, Fairfax Media, has given full time staff until next week to consider a nine day fortnight.
Fairfax Magazines' general manager, Lynley Belton, says increasing printing costs and declining advertising revenue have forced the company to find ways to make savings.
The workforce of just over 100 people was asked on Friday to consider a voluntary arrangement which could save jobs.
Ms Belton says vacancies will not be filled, staff will not receive pay rises this year and some will be redeployed.
Freelance rates have also been cut by 15%.
Fairfax publishes 16 magazines including Cuisine, New Zealand House and Garden, and TV Guide.