CBS announced today that they will move forward with job cuts of about 1% of the company, or 1,200 total employees mostly in news operations at their owned and operated network stations in major markets such as San Francisco, Boston, and New York. The cuts are partly blamed to a declining stock in Q4 as well as declining revenues across all stations after a weak Q1.Most of the trimming appears to be done in the news departments where the Early Show has lost a few employees as well as main stay on-air talent at many networks.
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