Over the course of the last decade or so, it has become rather apparent that things are not going well for CNN, the alleged “worldwide leader in news”.
The network has been losing viewership steadily in recent years, with scandals rocking the cable news innovators time and time again. Now, with a new chief at the wheel, it appears as though the company is about to send a whole lot of employees packing.
Cable news giant CNN will be hit by layoffs Wednesday and Thursday, part of continued cost-cutting by parent company Warner Bros. Discovery, which is trying to integrate the legacy WarnerMedia businesses (like CNN) and the Discovery businesses.
In a memo Wednesday morning, CNN CEO Chris Licht wrote that the channel will inform paid contributors Wednesday as part of a new reporting strategy, with full time employees being informed of their status on Thursday.
“It will be a difficult time for everyone,” Licht wrote.
“Our people are the heart and soul of this organization,” the executive added. “It is incredibly hard to say goodbye to any one member of the CNN team, much less many. I recently described this process as a gut punch, because I know that is how it feels for all of us.”
Adding insult to injury here is the timing, as Licht is making the cost-cutting maneuvers just ahead of the holiday season.