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CBS said it fired 40 people at its record division.

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The firm also reported that several dozen more employees will be cut from its broadcast group in the next few weeks as part of a companywide cost-cutting program. CBS said it intended to reduce annual expenses by $20 million last summer when it was fighting off a takeover bid by Atlanta entrepreneur Ted Turner that forced it to take on $954 million in debt to finance a buy-back of its own shares and mount other anti-takeover measures. In addition to the layoffs, the company has offered early retirement to about 2,000 of its 30,000 employees in an effort to reduce expenses.

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