CNN CEO CHRIS LICHT TELLS STAFF THE LAYOFFS “WILL BE A DIFFICULT TIME FOR EVERYONE.” LAYOFFS BEGIN AT CNN AMID WARNER BROTHERS DISCOVERY COST-CUTTING PLAN 

 

CNN head Chris Licht arrives for the Time 100 Gala celebrating Time magazine’s 100 most influential people people in the world in New York, U.S., June 8, 2022. REUTERS/Caitlin Ochs

CNN CEO CHRIS LICHT TELLS STAFF THE LAYOFFS “WILL BE A DIFFICULT TIME FOR EVERYONE.” LAYOFFS BEGIN AT CNN AMID WARNER BROTHERS DISCOVERY COST-CUTTING PLAN 

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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.”

The cuts are not a surprise, with Licht warning employees in late October that the news division would be undergoing a restructuring, citing “widespread concern over the global economic outlook.”

Source: the Hollywood Reporter, Alex Weprin

To read more, click here: https://www.hollywoodreporter.com/business/business-news/layoffs-begin-at-cnn-amid-warner-bros-discovery-cost-cutting-plan-1235268850/

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