FTVLive told you this morning about CNN's Jeff Zucker told the staff that “We are going to do less and have to do it with less.” 

It looks like the ax is starting to be sharpened as we speak.

Word is that some 550 buyouts are to be offered at Time Warner's Turner network this week, including a large number of those at CNN and HLN, which will lead to layoffs if they are not taken voluntarily.

The buyouts will come across the Turner division, with a couple of hundred expected at CNN and HLN, the individual said.

“I am working with the senior management team at CNN to figure out what this means for us. This will result in changes and what we do and what we stop doing,” Zucker told the staff.

A CNN spokeswoman had no immediate comment.

H/T The Wrap