CBS is making buyout offers to employees, Variety has learned, a process that began last week.
The offers are being made to those whose age and years of experience total 80 or more years, which would translate to senior-level staff, many of whom have been with the company through the Leslie Moonves era.
It is not yet clear how many buyout offers are being made, or which divisions might be most impacted. A source told Variety that the offers are voluntary, and that no employees are being forced to accept. A CBS spokesperson declined to comment.
CBS is the most recent major media company to make such a move. This follows last week’s news that HBO had begun offering voluntary buyouts to employees who have been with the premium cabler for a decade or more. Sources told Variety that the decision was not made by corporate parent AT&T or WarnerMedia, but by leadership at HBO.
The Miami New Times reported news on Monday of buyouts at CBS across the country on a local station level. According to the outlet, at least 20 highly paid employees at CBS-owned-and-operated Doral station WFOR had received offers the prior week.
Aside from its network, studio and film divisions, CBS’s businesses include CBS Entertainment, CBS News, CBS Sports, local television stations, an interactive division, The CW, Showtime, the Smithsonian Channel, Pop TV, streaming platform CBS All Access, and publisher Simon & Schuster.