Wenner Media swinging the ax

Jann Wenner is downsizing his media company, cutting dozens of jobs at Rolling Stone, Us Weekly and Men’s Journal.

As many as 40 people, or about 10 percent of the payroll, lost their jobs in the bloodbath that began last week, sources said — although the company said the cuts were “way below” 40.

A spokeswoman declined to confirm the exact number of people cut but said they came from both the business and editorial sides.

Newsstand sales and advertising revenue have fallen sharply at all three titles this year at the privately held company, sources said.

Wenner Media has been under fire since Rolling Stone earlier this year was forced to retract a story on an alleged rape at the University of Virginia after Charlottesville police couldn’t find any evidence the crime was committed.

A dean at the university has sued Wenner Media.

Albert Lee, an executive editor at Us Weekly, lost his job in the cuts, as did Sasha Charnin Morrison, the title’s fashion director.

Also among the cuts were: Kevin O’Leary, an Us senior writer; Rolling Stone Senior Writer David Fricke; and Nina Pearlman, the managing editor of special projects in charge of iPad editions for all three magazines.