Time magazine's fashion quarterly, Time Style & Design, will cease publication indefinitely. Four staffers were laid off, while the magazine's editor, Kate Betts, will stay on at Time. Time Inc. credits the suspension to the downturn in the luxury market. "We'd hope to bring it back when the economy improves," a spokeswoman said. If the magazine returns, they'll probably have to make some editorial changes. The luxury market will never be the same again. [NYP]