Turner Broadcasting to cut 10 percent of jobs

Turner Broadcasting is axing 10 percent of its staff, telling its employees in a memo that 1,475 positions will be eliminated across CNN, TNT and TBS.

The pink slips will go out to employees at all networks including news, entertainment, kids, young adult and sport networks as well as advertising sales.

“Turner Broadcasting System Inc. will reduce its global workforce of some 14,000 full-time employees — by approximately 10 percent,” read the memo.

Affected employees will be told in the next two weeks. The memo also said 150 new positions would be created in areas of “investment and growth.”

The notification came the same day as Turner’s announcement that it will spend an estimated $1.2 billion annually for a new deal with the NBA to keep the sport on the TNT network.