This morning David Westin, president of ABC News, sent out an e-mail to staffers warning that ABC News is not "immune from the downturn," and that the division (along with the rest of Disney's Media Networks Group) will be implementing new "guidelines" to "reduce administrative costs."
As part of the cost-cutting measures, ABC News will be canceling all of its magazine and newspaper subscriptions, will not be throwing any holiday parties, and will be scaling back on travel accommodations for executives.