FTVLive told you 4 days ago that the budget ax had started swinging at Turner owned properties.

Well, Today CNN started whacking employees as the first of what is expected to be 300 employees are getting pink slipped. 

The Wrap writes that cuts were going down at CNN's Los Angeles and New York bureaus on Tuesday, cutting the entire entertainment unit in the process.

The unit — which covers red carpet events and awards shows on both coasts — is now being disbanded. 

So far, a senior entertainment producer and an entertainment producer in L.A. were let go. The producer who runs CNN Entertainment in New York City is also out. The entertainment unit previously underwent massive cuts in November 2013.

CNN is not commenting on the cuts, but sources tell FTVLive that there will be more cuts everyday this week.

Stay tuned....