Variety: Discovery is planning staff cuts to the tune of $40 million to $60 million through the end of September. The company disclosed in an Securities and Exchange Commission filing that it began notifying employees of a voluntary buyout initiative. Discovery said in the filing it “expects to incur severance and other related expenses of between $40 and $60 million relating to all personnel adjustments.” CEO David Zaslav said the cuts were forced by the company’s need to adjust its business operations to “maintain our leadership position, stay ahead of the industry and have the resources to invest in new areas of growth.”