CBS said it fired 40 people at its record division.

The firm also reported that several dozen more employees will be cut from its broadcast group in the next few weeks as part of a companywide cost-cutting program. CBS said it intended to reduce annual expenses by $20 million last summer when it was fighting off a takeover bid by Atlanta entrepreneur Ted Turner that forced it to take on $954 million in debt to finance a buy-back of its own shares and mount other anti-takeover measures. In addition to the layoffs, the company has offered early retirement to about 2,000 of its 30,000 employees in an effort to reduce expenses.