(Fixes typographical error in first paragraph by replacing "or"
Aug 25 Time Warner Inc's Turner cable
division is preparing to offer buyouts targeting 500 to 600
staffers, or roughly 4 percent of its workforce, according to a
person familiar with the company.
Turner, which is home to cable networks such as CNN, TNT and
the Cartoon Network, employs about 14,000 people.
A spokeswoman for Turner did not immediately respond to a
request seeking comment.
The buyout packages are part of a larger initiative at
Turner to improve the efficiency of the division. During a
quarterly earnings call on Aug. 6, Time Warner executives said
the reorganization would likely be material in the second half
of the year.
During the second quarter, revenue at Turner rose 5 percent
to $2.8 billion, buoyed by growth in subscriptions, but parts of
the division have struggled with ratings and increased
The Wrap, an online publication that covers Hollywood,
first reported the buyout news on Monday.
(Reporting by Jennifer Saba in New York. Editing by Andre