ABC News May Cut Up to 300 Jobs

ABC News is drastically cutting back its operations and will thin its newsroom by 20%, or up to 300 positions. Most of those who remain will have to produce and shoot their own stories, reports the Los Angeles Times. Staffers will get letters this week asking for volunteers to take buyouts. If not enough do, layoffs will probably follow.

"The time has come to anticipate change, rather than respond to it," says the memo going out to workers. "We have a rare opportunity to get in front of what’s coming, to ensure that ABC News has a sound journalistic and financial footing for many years to come, and to serve our audiences even better." (More ABC News stories.)