ABC News trims expenses, staves off layoffs
EmptyDivisions of ABC, including ABC News, are starting to make cuts as the nation continues to experience economic gloom.
ABC is the latest in a line of belt-tightening companies. NBC Universal recently underwent $500 million in cuts. ABC is trying to limit expenses in order to avoid layoffs.
In a memo to employees late last week, ABC News president David Westin asked executives to fly in cheaper classes and stay at cheaper hotels, canceled print publications and tightened regulations regarding convention attendance and business lunches. The company's holiday parties also have been canceled.
There are no plans for staff reduction. ABC News experienced layoffs earlier this year.
In his memo, Westin said ABC News is not immune to the economic downturn.
ABC News has managed its costs during Westin's reign, but 2008 has been an extraordinarily expensive news year because of the presidential campaign.