Anxious employees at CNN, including those in DC, have been bracing for the worst amid hints of massive layoffs slated for the outlet. Today, Turner sent out an email to staff across all of its brands offering a Voluntary Separation Program to employees 55 and over who have worked for Turner for 10+ years.
Capital New York reported last week that Turner CEO John Martin explained his “Turner 2020” plan in a memo, saying, “A core team of our colleagues has looked at the purpose, structure and fit of literally every department in the company—more than 700 in all…Division leaders now are reviewing the working groups’ reports on their respective areas of oversight. Over the coming weeks, they will work with me to finalize the organizational changes we will implement.”
CNN president Jeff Zucker told the Atlanta Journal-Constitution that, “we are going to have to do what we do with less.”
Today’s memo, sent by Turner’s chief human resources officer, confirms measures beyond the voluntary buyouts are to be expected.
See the full memo after the jump.
August 26, 2014
To support the company’s stated focus on programming, monetization and innovation, we are identifying cost savings and shifting capital allocations to high-growth areas where investment will drive growth and profitability. As part of these efforts, we are offering a Voluntary Separation Program to regular status Turner Broadcasting employees on Turner’s U.S. payroll working in the U.S. and who are at least age 55 and have 10 or more years of service as of December 31, 2014, excluding on-air talent and employees covered by a written employment agreement.
Today, employees meeting these eligibility requirements will receive a confidential, personalized email detailing the program, its benefits and deadlines for acceptance, which is strictly voluntary. This enhanced benefit offering is just one vehicle the company is implementing as part of a comprehensive plan. Given the current focus on reducing costs and prioritizing investments to maximize company performance, Turner will also undertake additional reductions in staffing.
We are grateful to the tenured employees whose service and dedication to Turner Broadcasting have made an indelible mark on our business success.