CNN begins layoffs amid challenging time for media industry
CNN chief executive Chris Licht announced that the company has begun layoffs.
The news came in an all-staff memo as media layoffs have seen a spike amid fears of an impending recession, as Axios reported.
Licht took over as the network’s chief executive in May, and called the layoffs a “gut punch” to CNN saying that it “is incredibly hard to say goodbye to any one member of the CNN team, much less many.”
CNN said employees had been bracing for the layoffs after being informed by Licht last month that “unsettling” changes were on the way.
CNN boss Chris Licht informs employees in an all-staff note that layoffs are underway.
Licht says those being notified today are largely paid contributors and then tomorrow CNN "will notify impacted employees."
Licht will then provide an update to staff afterward. pic.twitter.com/nD0pt9Ruwj
— Oliver Darcy (@oliverdarcy) November 30, 2022
The memo said that a “limited number” of people would be notified on Wednesday, with other “impacted employees” set to be notified on Thursday.
“It will be a difficult time for everyone,” Licht said.
As Axios reported, Warner Bros. Discovery CEO David Zaslav warned this month of a weak ad market.
