Why Is CNN Laying Off Employees?

Cable news giant CNN is currently downsizing in a bid to reduce cost, following financial challenges facing many media companies, as a result of the global recession.

CNN had notified the affected employees both in person and via Zoom.

CNN chief executive Chris Licht described the exercise as a “gut punch.”

“It is incredibly hard to say goodbye to any one member of the CNN team,” he said in a memo.

Some of the affected staff members include politics reporter Chris Cillizza, global affairs analyst Susan Glasser, and senior technology writer Rachel Metz.

Notwithstanding, CNN is not alone in the staff cut game. Other media networks are also anticipating taking the same route in cutting down costs.

For instance, NBCUniversal, the umbrella company of NBC News and MSNBC, is set to lay off employees in January 2023.

Walt Disney is also reportedly planning sacking a number of employees, following the emergence of the new Chief Executive Bob Iger.