CNN informs employees that layoffs are under way - memo
Reuters
Published Nov 30, 2022 11:22AM ET
Updated Nov 30, 2022 11:42AM ET
(Reuters) -Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are under way, according to an email seen by Reuters.
Licht said CNN would notify a limited number of individuals, largely some of its paid contributors on Wednesday and the impacted employees on Thursday, according to the memo.
He would follow up with more details on the changes on Thursday afternoon.
"I know these changes affect both our departing colleagues and those who remain," Licht wrote. "And we have resources to support you."
The job cuts have been anticipated and come at a time when companies are looking to rein in costs and trim their headcount to brace for an economic slowdown.
In October, Licht had warned CNN would be undergoing changes, citing "widespread concern over the global economic outlook." The changes would affect "people, budgets and projects," Licht had said.
Cable channels operator AMC Networks (NASDAQ:AMCX) on Tuesday said it would cut 20% of its U.S. staff as it faces industry pressures and a challenging economy.
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Written By: Reuters
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