MEDIA
10/07/2014 11:14 am ET Updated Oct 07, 2014

Turner Broadcasting To Slash 10 Percent Of Its Workforce; 1,475 Employees To Lose Jobs

Turner Broadcasting says it will be reducing its workforce by 10 percent in the coming weeks -- a move that will see an estimated 1,475 people losing their jobs.

The media conglomerate, which operates CNN, TNT and TBS, among other networks, said in a statement Sunday that the job cuts "will come at all levels from across the company's news, entertainment, kids, young adult and sports networks and businesses, as well as corporate functions, in 18 Turner locations around the world."

CNN reports that the workforce reduction will be achieved "through a mix of buyouts, layoffs and other measures" and is part a larger restructuring effort known as "Turner 2020" -- an initiative launched earlier this year that seeks to refocus resources in growth areas, such as digital media. The cable news network says that about 300 of its employees will lose their jobs as a result of the impending cuts.

Turner's announcement Sunday was not unexpected.

In August, CNN President Jeff Zucker had warned the company that cuts were coming, telling staffers that they'd have to "do less and have to do it with less.” At the time, Turner employees were told that staff over 55 years old or who had been with the company for 10 or more years were eligible for a buyout. Employees were also told to expect "additional reductions in staff."

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