The worst is yet to come for CBS

I just declined an offer from CBS because of its stability. Now, judging from the announcement below, it was a right decision.

CBS has cut dozen of employees from its owned and operated stations, like: WBZ, WBBM, and KPIX. In light of talks with CNN, the cuts are just the beginning. CBS will likely cut at least third of its reporting staff.

TVNewser is reporting layoffs and restructuring at CBS News: “Insiders say the cuts amount to ‘just over 1%’ of the CBS News staff. CBS Corp. reported a 14.6% decline in fourth-quarter earnings. The share price is down 19% so far this year.”