Yesterday, FTVLive told you that Turner CEO John Martin sent out an internal memo to the employees, telling them that they plan on cutting almost 1500 jobs across Turner properties.
CNN is expected to lop off 300 jobs alone, which is almost double than what was original expected.
Here is the internal memo that was sent out:
Today we are announcing that position eliminations identified through the Turner 2020 initiative will impact roughly 10 percent of the company’s current full-time global workforce of some 14,000. The approximately 1,475 impacted roles 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. Our colleagues whose positions are directly impacted will be advised over the next two weeks.
Those whose jobs are impacted will receive every consideration and the respect they are due, starting with severance pay for transition. 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.
We’ve known since we announced Turner 2020 in June that a close review of structures would likely identify redundancies and areas where our people resources are not optimally assigned. That doesn’t make it any easier to see people we value as colleagues and friends exit the company. It’s our responsibility as business leaders to focus Turner’s talent pool where individuals and groups will deliver the greatest return for the company, for Time Warner and for our shareholders. I also feel a responsibility to see that we are creating meaningful professional opportunities and ways for people to lead, succeed and grow. So the employee component of the larger Turner 2020 project has received careful consideration.
Let me address, again, any lingering concerns over Turner’s profile in the Atlanta community: Atlanta remains the company’s largest employee base, with more than 5,500 full-time employees even after this force reduction. That positions Turner among the top 25 Metro Atlanta employers on a headcount basis. Beyond people and infrastructure, our history and heritage are there. So is a big part of our future.
I appreciate your focus and professionalism over the recent months. I’m asking for more of the same in the weeks ahead, as responsibilities and teams shift across our company. This process is not without challenges, but out of it will come new energy and momentum. I remain certain of its necessity and the positive impact it will have on our ability to reach the goals we have set to secure a healthy, productive and growing future for Turner Broadcasting.