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"ABC News will sharply reduce its news-gathering staff through buyouts and possible layoffs, the company said on Tuesday. ABC employees said they expected the cutbacks would affect 300 to 400 people, or roughly 25 percent of the news division's work force."

ABC News will sharply reduce its news-gathering staff through buyouts and possible layoffs, the company said on Tuesday. ABC employees said they expected the cutbacks would affect 300 to 400 people, or roughly 25 percent of the news division's work force.

Because of staff cuts, ABC and CBS are relying on journalists who can use digital equipment to produce stories themselves, or just use smaller teams.

Disney shuts down Miramax films due to financial struggles. Eighty staff members will lose their jobs. What will this mean for the "indie" film scene?

Employees at USA Today will be required to take a full week of unpaid leave between now an July, a move affecting nearly 1,500 staff members.

Newsday is striking back after reports earlier this week poked fun at the small number of paying subscribers that Newsday.com has attracted since the site put up a pay wall three months ago. The news organization's top executive responded via a memo to staff on Thursday explaining why the paid model is not a disappointment.