CNN Memo to All-Staff: Sacking is on the Way

 BY: News Peddlers

According to an email obtained by Reuters, Warner Bros Discovery-owned (WBD.O) CNN's top executive, Chris Licht, informed employees in an all-staff memo on Wednesday that layoffs are underway.

According to the memo, Licht stated that CNN would notify a small number of people, primarily some of its paid contributors, on Wednesday and the impacted employees on Thursday.

He would provide more information about the changes on Thursday afternoon.

"I understand that these changes have an impact on both our departing colleagues and those who remain," Licht wrote. "We also have resources to help you."

The job cuts were expected and come at a time when businesses are looking to cut costs and reduce headcount in preparation for an economic slowdown.

In October, Licht warned that CNN would be undergoing changes, citing "There is widespread concern about the global economy's outlook. " Licht had stated that the changes would affect "people, budgets, and projects."

AMC Networks announced on Tuesday that it would lay off 20% of its U.S. workforce due to industry pressures and a challenging economy.

Reuters