January 1, CNN Announces Layoffs Amid “Difficult Time”

CNN CEO Chris Licht announced that the network had begun the process of laying off an unspecified number of employees.

“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,” Licht wrote in a memo Wednesday morning.

“It will be a difficult time for everyone,” he added.

According to Licht’s memo, the job cuts will affect a limited number of people, largely paid contributors, as part of a recalibrated reporting strategy.

The layoffs come amid decreasing morale at the network, which has already undergone significant turnover this year.

In late October, Licht warned employees that the network would be undergoing a restructuring due to “widespread concern over the global economic outlook.”

Source: The Hollywood Reporter