CNN’s parent company will be cutting 400 positions from its American and international channels, the news organization reported Monday. The company said about 130 CNN reductions will be voluntary buyouts, and the rest will happen through layoffs.

Turner Broadcasting, which owns CNN, TBS and TNT networks, said it plans to cut its workforce by 10 percent, which means roughly 1,475 full-time positions will be terminated worldwide. The layoffs are part of a long-term plan known as Turner 2020, which is meant to save the company money and “refocus investment,” CNN reported.

“Those whose jobs are impacted will receive every consideration and the respect they are due, starting with severance pay for transition,” Turner CEO John Martin said in a note to staff. “Whatever their job title, business unit or location, they have contributed to the success story that is Turner Broadcasting, and they leave with our thanks and sincere best wishes.”

Turner Broadcasting Inc. currently employs 14,000 staffers worldwide. CNN employs about 3,500.

The CNN news comes less than a week after the New York Times announced that it would be cutting 100 newsroom positions.