03/28/2008 02:44 am ET Updated May 25, 2011

ABC News Announces Layoffs

Now we know why ABC News lost out in the bidding for that Paris Hilton interview. In order to save cash--er, rather, "maintain and enhance the reputation of ABC News for its unparalleled reporting"--news division head David Westin just announced a wave of lay-offs expected to eliminate a total of 35 jobs.

"We regularly take a strategic look at where ABC News stands, where we are going, and what resources we will need to get there," writes Westin in an e-mail to employees. "So, we've begun a two-year process to take a fresh look at ABC News from top to bottom."

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