CNN will lay off employees on Wednesday and Thursday as part of parent firm Warner Bros. Discovery’s ongoing cost-cutting efforts.
CNN CEO Chris Licht stated in a message Wednesday morning that the channel will notify paid contributors on Wednesday as part of a new reporting approach, with full-time staff notified on Thursday.
The layoffs come as no surprise, as Licht informed workers in late October that the news division will be restructured.
They do, however, come at a time of declining morale at CNN, which has already witnessed major turnover this year as a result of the Discovery acquisition.
One of the first actions taken after the merger was completed was the shutdown of the CNN+ streaming service, which resulted in the layoff of several hundred employees.
CNN announces layoffs pic.twitter.com/109ooRGCHV
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Since then, the firm has also made layoffs at CNN Digital, and a number of high-profile on-air anchors and journalists have left the network.
CNN is on pace to fall short of its $1.1 billion profit projection for 2022 by more than $100 million, according to a recent report from The New York Times.
However, the CNN layoffs come amid a wave of cost-cutting across the media sector, with TV news operations in particular tightening their belts in preparation for 2023.