A memo was sent out a short time ago to employees at Turner properties from CEO John Martin.

The memo to the employees announced that the company is going to layoff 1475 people.

.The cuts will come across all divisions including CNN and HLN.  The memo stated the cuts will happen "in 18 locations around the world." 

Affected employees will be notified over the next two weeks.

Well...isn't that just great for morale. 

Update: CNN is expected to cut 300 jobs.