CBS News management yesterday gave termination notices to 70 employes, including seven on-air correspondents . . .

The CBS News Washington bureau lost five persons, including three correspondents, in the cutback . . .

An additional 20 positions will be lost at CBS News through attrition or job consolidations by the end of the year . . .

The cuts are part of a 700-person layoff plan ordered across the board at divisions of CBS Broadcast Group earlier this month as the result of advertising market weakness that has reduced revenue forecasts throughout television . . .

Last fall, CBS News lost another 125 employes from a roster that numbered about 1,375 a year ago. The division will have about 1,150 employes by the end of this year. NBC News reports about 1,300 employes; ABC News, more than 1,100 . . .

Correspondents who were notified of their dismissal yesterday included George Herman, Sam Ford and Gary Schuster from the Washington bureau; Atlanta-based Sandy Gilmour; Carlos Aguilar in Dallas; Nadine Berger in Los Angeles; and Don Webster, currently in the Amman, Jordan, bureau . . .

Herman, a 42-year veteran of CBS, said yesterday his contract runs until Jan. 11, 1987, and, with the blessing of bureau chief Jack Smith, he will continue on the air at the network "while looking around." He said, "They offered me an opportunity to take retirement but I said, 'Put me down as one of your fired' " . . .

Herman appears regularly on CBS' "Sunday Morning" and is chief Washington political analyst for CBS Radio. He anchored "Face the Nation" for 15 years . . .

In yesterday's cutback, "Sunday Morning" lost Executive Producer E.S. Lamoreaux III, as well as several segment producers . . .

No one from the staff of "West 57th" -- a program whose fate will be decided in a few weeks -- or of the Washington-based "Nightwatch" was dismissed yesterday . . .

Sources said that after a new executive producer is appointed for "Nightwatch," there will be several layoffs on the program, which will be considered "separate and distinct" from the current cuts . . .

"The preponderance" of the layoffs were made in the "support services and generally did not affect a lot of producers, associate producers or on-air talent, and no bureaus are being closed," a CBS said yesterday . . .

In a memo to the news division staff yesterday, CBS News President Van Gordon Sauter blamed the cutoffs on "wrenching changes in the economy that supports our work . . .

"The date that distresses all of us is here," he wrote, adding that "our regret and sympathy go out" to the discharged employes. Each employe received a benefits package, including severance pay, vacation time and information about pensions and insurance. Another packet provided places to look for jobs, ways to interview and prepare re'sume's, and tax information . . . Also in the News

It was no day for cheer at CBS News, but there was some optimism generated in New York yesterday by the performance of "West 57th" Wednesday night . . .

The magazine, on a 13-week trial, registered a 10.5 national Nielsen rating and a 20 percent audience share. Although the program finished third nationally in its time slot against NBC and ABC programming, it won 10 p.m. in Miami, Denver and Dallas . . .

There seems to be growing hope at CBS that "West 57th" can be saved for another run, perhaps in January. The show has one more outing on its current schedule, at which time the decision probably will be made about its future . . .

Meanwhile, the staff is expected to resume work on the series next month after a brief rest, pending the decision . . .

Also from CBS News: Management is working on deals to retain the services of both Forrest Sawyer and Maria Shriver, the lame-duck anchors on the present "CBS Morning News" staff, which is about to undergo a face lift . . .

"Maria wants to stay but she wants to do something that will advance her career," a CBS News executive said yesterday (Translation: CBS is aware that Maria, like Forrest, is being shopped around the other networks by an agent) . . .

Paul Hallett, who has been the staff announcer at Channel 5 for the past 22 years, is leaving the station today. He wants to do free-lance work . . .

Washington public relations consultant Pamela Kostmayer appears on "Hour Magazine" today (Channel 9 at 4 p.m.) . . .

NBC's "Today" show won the morning network race for the 29th time in the last 31 weeks, with a 5.0 Nielsen rating and a 25 percent audience share compared with a 4.1/20 for ABC's "Good Morning America" and a 3.0/15 for the "CBS Morning News" . . .

And from our I Thought They Were Supposed to Discover These Kids in a Drugstore file: Kim Morgan Greene, who as of last Sunday was a fandango dancer in the Broadway revival of "Sweet Charity," has signed to play the regular role of magazine reporter Channing Carter on ABC's "The Colbys" . . .

Randy Quaid and Patti LuPone, who play President Lyndon Johnson and Lady Bird Johnson in the upcoming "LBJ," a three-hour movie due next season on NBC, will be in town this weekend for location shots . . . Figure the major monuments, the Capitol steps on Sunday, "LBJ" fans . . .

The movie traces Johnson's life from 1934 to the start of his presidency in 1963, on the death of President Kennedy . . . Daytime Emmys

CBS dominated the 13th annual Daytime Emmy Awards yesterday, winning seven of the 14 awards handed out. ABC won three; NBC, two; PBS, one; and syndicated shows, one . . .

Including daytime awards on the arts and technical side handed out last Sunday, CBS won 20 Emmys overall; ABC took 10; PBS, eight; NBC, six; and syndicated shows, three . . .

In yesterday's ceremonies, broadcast live on NBC:

CBS' "The Young and the Restless" was named Outstanding Drama Series . . .

CBS' "The $25,000 Pyramid" was named Outstanding Game/Audience Participation Show . . .

PBS' "Sesame Street" was named Outstanding Children's Series . . .

The "CBS Schoolbreak Special: The War Between the Classes" was named Outstanding Children's Special . . .

The Emmy for Outstanding Lead Actress in a Drama Series went to Erika Slezak, who plays Victoria Lord Buchanan on ABC's "One Life to Live" . . .

Outstanding Lead Actor in a Drama Series: David Canary (Adam Chandler) on ABC's "All My Children" . . .

Outstanding Supporting Actress in a Drama Series: Leann Hunley (Anna Di Mera) on NBC's "Days of Our Lives" . . .

Outstanding Supporting Actor in a Drama Series: John Wesley Shipp (Douglas Cummings) on CBS' "As the World Turns" . . .

Outstanding Ingenue in a Drama Series: Ellen Wheeler (Victoria Love) on NBC's "Another World" . . .

Outstanding Younger Leading Man in a Drama Series: Michael E. Knight (Tad Martin) on ABC's "All My Children" . . .

Outstanding Game Show Host: Dick Clark for CBS' "The $25,000 Pyramid" . . .

Outstanding Talk/Service Show Host: Phil Donahue for the syndicated "Donahue" . . .