Business

ABC News plans to cut 20 per cent of its workforce

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In what it calls a “fundamental transformation” of its business, ABC News plans to cut about 20 percent of its workforce — or around 300 people — through buyouts or layoffs.

According to a memo sent to staffers late yesterday afternoon, the repositioning of ABC News will have six components, including combining the weekday and weekend operations of “Good Morning America” and “World News” and “eliminating redundancies wherever possible.”

Full story: ABC-ing you later–NY Post