CNN President Chris Licht signaled layoffs are imminent, telling the embattled community’s staffers that the tempo of its ongoing inner shakeup “will speed up” by the tip of the yr.
Licht, who has led an effort to reshape CNN as a centrist information outlet, stated in a memo to staff Wednesday that the community’s goal was “to have most of those selections made by the tip of the yr so we are able to begin 2023 feeling settled and ready for the longer term.”
The CNN boss cited a necessity to organize the corporate for a world financial downturn as recession fears mount the world over.
“There's widespread concern over the worldwide financial outlook, and we should issue that threat into our long-term planning,” Licht wrote in a memo obtained by The Hollywood Reporter. “All this collectively will imply noticeable change to this group. That, by definition, is unsettling. These modifications is not going to be simple as a result of they'll have an effect on folks, budgets, and tasks.”
Licht added that he would “ship updates as I've them” to CNN staffers. He additionally indicated plans to host city corridor conferences with staff in November and December.
The chief didn't present a sign of what number of CNN staff are prone to be laid off throughout the restructuring effort.
“After we emerge on the opposite aspect, CNN might be a stronger, extra nimble group, able to climate regardless of the international economic system throws at us and to develop into the longer term,” Licht added.
Licht’s memo emerged on the identical day that CNBC reported the manager was planning to slash “elements of CNN which have change into bloated over time.” Sources stated that CNN dad or mum WarnerBros. Discovery plans to chop greater than 1,000 staff by the tip of the yr.
Licht advised CNBC in a current interview that he desires to shift CNN away from outrage-driven programming.
“The model is essentially the most trusted model on this planet on the subject of journalism, proper up there with the BBC,” Licht advised CNBC. “I feel what occurred a bit bit right here prior to now was it’s simple to take the fast sugar excessive of rankings and outrage. So, I’m attempting to do no hurt to an excellent model.”
CNN has already made main modifications since Licht took the helm earlier this yr, together with shuttering its doomed CNN+ streaming service only one month after its launch, firing longtime community character Brian Stelter and canceling his present “Dependable Sources.”
Licht additionally shifted Don Lemon out of CNN’s primetime lineup and named him one among three co-anchors on a revamped morning present.
WarnerBros. Discovery has stated for months that it plans to chop prices throughout its slate of companies. WarnerBros. Discovery CEO David Zaslav is aiming to shave off $3 billion by means of layoffs and different cost-cutting measures.
In an SEC submitting earlier this week, the company big stated it anticipated the downsizing initiative to lead to as much as $1.5 billion in associated bills, together with severance packages.
The Submit has reached out to CNN for touch upon the memo.
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