The same day it announced a huge new partnership with the National Basketball Association, Turner Broadcasting revealed plans to cut its workforce by 10 percent in the coming weeks. The company will eliminate roughly 1,475 of its 14,000 full-time positions across the globe.
From Turner Broadcasting CEO John Martin's staff memorandum, via CNN Money:
"[The eliminations] are at all levels of 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. [...] Those whose jobs are impacted will receive every consideration and the respect they are due, starting with severance pay for transition." [CNN Money]
The move is part of an internal plan to cut costs known as Turner 2020, and follows a voluntary buyout plan announced back in August. This round of reductions will come through a combination of buyouts and layoffs, and will affect several of the Turner brands, which include CNN, TNT, and Cartoon Network.
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