‘Layoffs Underway’: CNN Tells Employees. Read Details

Layoff at CNN News: For the unversed, the media industry is hit by cost-cutting measure including layoffs as the ad market is decelerating. an Axios report showed. Recently, several media organisation announced layoffs, hiring freeze and other cost-cutting measures.

Written by: India.com News Desk Edited by: Surabhi Shaurya

Updated: December 1, 2022, 6:49 PM IST

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Layoff at CNN

Layoff News: Amid ongoing layoffs at tech companies, a few media organisations have also informed their employees about the possible sacking. The latest to join the bandwagon is CNN. A tweet from CNN’s reporter claimed that CNN‘s top boss Chris Licht informed its staff that layoffs are underway in an all-staff memo.

“CNN would notify a limited number of people, largely some of its paid contributors today and the impacted employees tomorrow, the tweet informed”, the tweet quoted Licht as saying.

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 last major cuts to occur at the CNN were in 2018 when less than 50 people lost their jobs as the company restructured its digital business.

For the unversed, the media industry is hit by cost-cutting measure including layoffs as the ad market is decelerating. an Axios report showed. Recently, several media organisation anounced layoffs, hiring freeze and other cost-cutting measures.

Earlier this week, VerSe Innovation, the parent company of news aggregator Dailyhunt and short video platform Josh announced pay cuts and layoffs. Reports stated that the company has cut salaries up to 11 percent for employees earning more than Rs 10 lakh per annum. Moreover, the company also laid off about 150 employees or about 5 percent of its workforce.