CNN Announces “Massive Layoff” Of Workers

Media giant, Cable News Network CNN has announced that it is laying off employees and paid contributors.

This is the latest shake-up for the cable network after Warner Bros. Discovery Inc. WBD 1.27% increase; green up pointing triangle took ownership of it from AT&T Inc. earlier this year.

“It is incredibly hard to say goodbye to any one member of the CNN team, much less many,” Chris Licht, chief executive at CNN, wrote in a memo to staff on Wednesday that was viewed by The Wall Street Journal.

“I recently described this process as a gut punch, because I know that is how it feels for all of us.”

He said the company would notify “a limited number of individuals, largely some of our paid contributors, as part of a recalibrated reporting strategy.” He added that he would notify affected employees on Thursday and follow up with more details.

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

The cable news network’s cutbacks come after waves of layoffs have rippled across some industries. AMC Networks Inc. this week said it would lay off about 200 U.S.-based employees after struggling to make enough money from streaming services to offset losses from a continued decline in cable television.