CNN Parent Turner Broadcasting Slashes 10 Percent of Staff
The Time Warner division employs around 14,000 full-time employees, meaning that about 1,475 positions will be eliminated
Turner Broadcasting System said Monday that it is planning to reduce its work force by about 10 percent.
The Time Warner division employs around 14,000 full-time employees, meaning that about 1,475 positions will be eliminated.
The cuts will come at all levels from across the news, entertainment, kids, young adult and sports networks and businesses as well as corporate functions, in 18 Turner locations around the world.
About 300 positions will be eliminated within CNN Worldwide, or about 8.5 percent of the roughly 3,500-strong workforce, according to CNN Money.
Employees whose positions are affected will be advised over the next two weeks and will be offered severance pay.
The layoffs had been expected as Time Warner CEO Jeff Bewkes continues to revamp and streamline the media conglomerate.
Turner CEO John Martin has been encouraging employees to take buyouts, while new leadership of the division's cable channels — which include TBS, TNT, CNN, Adult Swim and truTV — were under pressure to improve performance, particularly as advertising dollars diminish and the cost of original programming, especially sports deals, keeps climbing.