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Time Warner Inc.
Turner Broadcasting to cut costs; older workers offered buyouts
Turner Broadcasting to cut costs; older workers offered buyouts

Turner Broadcasting has launched a significant round of cost-cutting, with plans to eliminate several hundred workers. The move, announced Tuesday, comes after a nearly three-month review of the business initiated by John Martin, who earlier this year became chief executive of Atlanta-based Turner Broadcasting. The unit includes CNN, TBS, TNT and Cartoon Network. The voluntary buyouts are being offered to fewer than 600 employees based in the U.S., according to a person familiar with the plans. To be eligible, workers must be at least 55 years of age and have worked at the company for 10 or more years, according to a memo sent Tuesday morning to Turner employees. The company said...

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