Report: Big job cuts at ABC News


The Los Angeles Times reports that as many as 300 staffers are being let go by ABC News. The report says the first phase of cutting will come Wednesday as employees receive a letter asking for volunteers to take buyouts to leave the company. If there are not enough volunteers, layoffs will follow.

ABC News has approximately 1,400 employees, so a reduction of 300 would be in the neighborhood of 20%.