Multinational cable news channel, CNN, is the latest company to lay off employees in the wake of worsening economic outlook. The media outlet laid off hundreds of its staff, although, sources familiar with the story said that it only affected a small percentage of the company’s 4,400 workers.
In an internal memo sent to the employees, CNN CEO Chris Licht also revealed some of the strategies that the executives are putting in place for a better future.
“At the highest level, the goal is to direct our resources to best serve and grow audiences for our core news programming and products,” he wrote.
CNN is canceling its HLN channel and shuffling teams in the CNN International department. Also, while it is looking to broaden its Spanish network, CNNE, the news company is restructuring its U.S. Newsgathering arm.
The job cuts mostly affect the HLN department, which has been axed, programming teams, and the creative marketing team. In his memo, Licht did not reveal what sort of severance packages await the departing employees, some of whom have been with the company for several years.
“To our departing colleagues, I want to express my gratitude for your dedicated and tireless service and for your many contributions to CNN. To all employees, I want to underscore the importance of taking the time you need to best be able to move forward,” he said towards the end.
According to a CNBC piece, the CNN job cuts is part of its parent company, Warner Bros. Discover, effort to reduce cost ahead of 2023.
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