Buyouts, Layoffs Coming to Turner Broadcasting

Turner Broadcasting will offer buyouts to some of its employees in the U.S., the first part of a cost-saving effort that is expected to include layoffs, the company announced on Tuesday.

CNN, one of the companies operated by Turner, broke the news, noting that about 6%, close to 600 employees, of Turner are eligible for the buyouts

The buyouts will target some of the company's most senior employees. Only staffers age 55 and older who been at the company for more than 10 years are eligible. Those who opt in to the buyout will receive nine weeks of salary plus four weeks of salary for each year of employment. Such buyouts are meant to reduce staff costs by attracting some of the most expensive employees. Read more...

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