After a spree of tech layoffs impacted thousands, it seems that media houses are next. As per latest updates, CNN has reportedly informed employees on Wednesday that layoffs have started and may impact hundreds of staffers.
According to a CNN report, the layoffs at the global news network are expected to mark the deepest cut to the organisation in many years. The information about these layoffs has reportedly been given by Chris Licht via an all-staff memo. Licht took over as the Chief Executive of CNN in May.
The CNN report on layoffs adds that Licht described the move as a “gut punch” to the global news network. It even added that the chief told employees, “It is incredibly hard to say goodbye to any one member of the CNN team, much less many.” Before this, Licht had already reportedly informed employees that some unsettling changes were coming.
Elaborating on the CNN layoffs, the report adds that as per Licht’s memo, the company would inform a limited number of employees and largely paid contributors that they have been let go. It is also likely that the information may be relayed today onwards. Licht, as per the report, said in the memo, “It will be a difficult time for everyone.”
Even though reports of CNN layoffs have surfaced, the exact number of impact employees is not known. These layoffs in media organisations have reportedly come about in an effort to cut costs amid rising economic uncertainty.