(MENAFN) Turner Broadcasting announced cutting 10 percent of its staff, about 300 of which at its CNN division, aiming to lower costs and refocus the media group, Arab News reported.
The American media corporation said in a statement that it will be eliminating about 1,475 positions out of 14,000 full-time jobs worldwide in the upcoming weeks.
The company, a unit of the media firm Time Warner, will use buyouts and layoffs to achieve its job reductions, which is part of a broader plan called "Turner 2020" to refocus the company.
"The cuts 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," Turner CEO said.
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