Turner announces company-wide position reduction
Monday, October 6, 2014
Turner Broadcasting Announces Company-wide Position Reduction
Turner Broadcasting System, Inc. will reduce its global workforce of some 14,000 full-time employees by approximately 10 percent, the company announced today. The position eliminations, which will total approximately 1,475 roles, will come at all levels from across 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. Employees whose positions are directly impacted will be advised over the next two weeks and will be offered severance pay for transition.
The position eliminations are one component of a comprehensive initiative and company reorganization to focus resources and prioritize investment in programming, monetization and innovation as near- and long-term drivers of growth.
This reorganization includes position reductions from a voluntary separation program, involuntary separations, elimination of unfilled headcount and the addition of approximately 150 new positions in areas of investment and growth. Turner Broadcasting will continue to maintain significant employee populations in major cities around the world, including Atlanta, New York, Los Angeles, Washington, D.C., London, Hong Kong, Mumbai, Buenos Aires and Santiago. Atlanta remains the company's largest employee base, with more than 5,500 full-time employees.
Turner Broadcasting System, Inc., a Time Warner company, creates and programs branded news; entertainment; kids and young adult; and sports media environments on television and other platforms for consumers around the world.