CNN Begins Massive Layoffs As Cost Cutting Strategy

CNN, a multi-national cable news network, informed its staff on Wednesday that layoffs had begun and could affect hundreds of positions at the news organisation. The organisation would experience the sharpest cuts in years, according to the corporation.

A message sent internally to the staff confirmed what they had been anticipating ever since CEO Chris Licht told them unsettling changes were coming.

The mailer says, "Our people are the heart and soul of this organization. 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."

The affected employees will be informed today via a Zoom meeting or an in-person meeting, depending on their location. In spite of the layoffs, it was made plain in the mailer that those who are qualified for bonuses in 2022 will still receive the same amount. 

"I know these changes affect both our departing colleagues and those who remain, and we have resources designed to support you. I will include a link to those resources in my follow up email tomorrow," writes Licht in the mailer.

Cost-cutting tactics have been widespread in the media industry as a result of the affected ad revenue for US networks. As a response, Disney and AMC Networks have also disclosed restructuring and layoffs. In 2018, 50 workers lost their employment at CNN as a result of the corporation restructuring its digital division.