Some Turner Broadcasting Personnel To Receive Buyout Offers
About 500 senior Turner Broadcasting staffers today "will be offered buyouts" as part of "efforts to cut costs" under new CEO John Martin. The buyouts "will be offered throughout Turner, including its news networks CNN and HLN as well as its entertainment networks, including TNT and TBS." The Time Warner unit is "not aiming at a specific headcount but rather is seeking to hit an expense number" (MULTICHANNEL.com, 8/25). A source said that the buyouts "would affect about 4% of Turner's workforce of approximately 13,500," and the move would "not eliminate the need for more job cuts" (WSJ.com, 8/25).