ABC is expected to make a major round of cuts Wednesday morning in an attempt to make up for its continued loss in ad revenue.
According to the LA Times, ABC News will first ask employees to volunteer to take buyouts and leave. If 300 positions are not vacated, the media group will resort to layoffs.
The layoffs will cut 20% of the 1,400-person newsroom, forcing remaining employees to take on additional work.
Forced to belt-tighten by the weak advertising market, network executives have opted to restructure the labour-heavy newsroom from top to bottom in favour of a leaner, more nimble operation, according to multiple sources. Many of those remaining in the pared-down news division will be expected to both produce and shoot their own stories, acting as “one-man bands,” a model increasingly being adopted in television news.
ABC News hopes that “becoming more nimble” they can ward off layoffs in the near-future.
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