Turner broadcasting is set to let go of 300 CNN full-time staffers as part of staff cuts across the board at the media giant.
Turner, the parent company of CNN, TNT and TBS, along with several other channels, will be cutting it’s overall workforce by 10 percent, with CNN’s workforce cut by 8.5 percent, according to CNN’s Brian Stelter.
There are 14,000 full-time positions at Turner, and about 1,475 will be axed. (RELATED: As CNN ‘Braces’ For More Cuts, Fears Are Palpable)
The cuts will come down this fall and affect all CNN channels, including CNN International, U.S. and HLN.
According to Stelter, the staff reductions are “part of a broader effort to save money and refocus investment, known internally as Turner 2020.”
Of the 300 CNN jobs being cut, 130 will be made through voluntary buyouts, with the other 170 coming through buyouts.
As reported originally by Stelter, 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,” according to CEO John Martin’s memorandum to staffers at the company.
“Those whose jobs are impacted will receive every consideration and the respect they are due, starting with severance pay for transition,” Martin said. “Whatever their job title, business unit or location, they have contributed to the success story that is Turner Broadcasting, and they leave with our thanks and sincere best wishes.”