>
CNN CEO Chris Licht was supposed to speak with employees at a tense company town hall on Tuesday as the network faces layoffs in early December after being tasked with finding ways to cut costs.
Licht, 51, answered questions about the cuts after hinting earlier in the summer that CNN would not have to lay off any staff.
At town hall, Licht made no apology for his earlier indication that there would be no layoffs, but added that he felt he was being honest at the time.
Licht has overseen the closure of CNN+ in 2022 and a purge of corporate veterans such as Brian Stelter, Jeffrey Toobin and John Harwood.
He reportedly did not go into details about the layoffs, but said teams deemed not essential to the network’s “core mission” were on the chopping block.
CNN CEO Chris Licht said there would be layoffs at the network in early December as he was reportedly ordered to cut CNN $100 million
Light has overseen the 2022 shutdown of CNN+ and a purge of corporate veterans like Brian Stelter, Jeffrey Toobin, and John Harwood
Licht said at the meeting that “at this time” there are no plans for any future layoffs beyond those in early December
“As far as CNN is concerned, there are no layoffs per se. A layoff is a downsizing, where you get purpose, and that doesn’t happen at CNN,” Licht said at a staff-wide event in June.
Then, in October, he wrote a memo saying “changes” were coming that would affect “people, budgets and projects” and said there would be a “noticeable change in this organization.”
“There are widespread concerns about the global economic outlook, and we need to factor that risk into our long-term planning. All this together will mean a noticeable change for this organization. That is, by definition, disturbing. These changes will not be easy because they will impact people, budgets and projects,” he said.
Licht said at the meeting that there are no plans for any future layoffs beyond those in early December “at this time.”
According to Puck, Licht has been ordered by his boss David Zaslav to cut $100 million from CNN’s budget to protect Warner Bros.’ Discovery appease.
A CNN staffer said at the meeting that they have been with the company for 20 years and had never seen morale as low as it is now.
Warner Bros. Discovery will also lay off 1,000 of its 40,000 employees before the end of the year.
CNN isn’t the only network suffering from harsh economic conditions that have pushed inflation and interest rates up.
NBCUniversal
Shepard Smith, who co-hosted The News with Shepard Smith, saw his show canceled this week as new CNBC boss KC Sullivan pivoted the network to more business news
Tiffany Cross, who presented Cross Connection on Saturday, was fired this week after repeatedly sparking controversy, such as declaring the country was in a ‘civil war’
While no formal announcement has been made regarding layoffs, NBCUniversal offered early retirement packages to employees with 10 years of service who are age 57 or older.
Early retirement packages often precede budget cuts, depending on how many employees take up the offer.
The news comes after they cut ties with controversial presenter Tiffany Cross, who repeatedly spouted anti-conservative rhetoric, such as declaring the country was in a “civil war.”
They also fired anchor Shep Smith, who left Fox News in 2019 after a feud with one of the network’s first anchors, Tucker Carlson.
“We’re going to have to shift some of our priorities and resources and make some tough decisions,” CNBC chief KC Sullivan said on Nov. 3.
ABC news
Kim Godwin, president of ABC News, said the network will also be affected by changes made by parent company Disney, which has signaled a headcount cut
Disney, the parent company of ABC News, recently announced a new ‘cost structure task force’ that will pursue ‘organizational improvement’
Another recent network signaling a potentially tumultuous future was ABC News. President Kim Godwin said the network will also be impacted by changes instituted by parent company Disney, which has indicated a staff cut is coming.
Disney CEO Bob Chapek sent a memo to business division leaders on Nov. 11 outlining a hiring freeze, a cancellation of all travel deemed not “essential,” and a new “cost structure task force” that would implement “organizational improvements.” pursues.
CBS news
CBS News is not free from the belt that is hitting news and media companies as parent company Paramount Global faces layoffs.
While the 100-employee cut will primarily target the ad sales teams, CBS Studios and Paramount Television Studios employees will also reportedly be affected.
“I think there is an opportunity for restructuring costs in the fourth quarter,” Paramount CFO Naveen Chopra said during the company’s Q3 earnings call on Nov. 2, adding that the cost-cutting measures would be “meaningful and sizable.”