CNN informs employees that layoffs are underway

Sat, 04 Feb 2023

CNN informs employees that layoffs are underway

Robert Besser
04 Dec 2022, 08:04 GMT+10

As companies look to rein in costs and trim their headcount to brace for an economic slowdown, CNN's top executive Chris Licht indicated that layoffs are underway.
In an all-staff memo Licht said CNN would notify a limited number of individuals, largely some of its paid contributors and the impacted employees.
In October, Licht had warned that CNN would be undergoing changes, citing "widespread concern over the global economic outlook."

ATLANTA, Georgia: As companies look to rein in costs and trim their headcount to brace for an economic slowdown, CNN's top executive Chris Licht indicated that layoffs are underway.

According to an email seen by Reuters, in an all-staff memo Licht said CNN would notify a limited number of individuals, largely some of its paid contributors and the impacted employees.

"I know these changes affect both our departing colleagues and those who remain," Licht wrote. "And we have resources to support you."

In October, Licht had warned that CNN would be undergoing changes, citing "widespread concern over the global economic outlook."

Also, Cable channels operator AMC Networks said it would cut 20 percent of its U.S. staff as it faces industry pressures and a challenging economy.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to South East Asia Post.

More Information

23 ℃

Mostly Cloudy in Seletar

International

Section

U.S. warned NATO expansionism would cross Russian tripwires

Nearly a year in, the war in Ukraine has cost tens of thousands of lives and brought the world to ...

After Biden tapped US oil reserves, House passes bill to end such uses

WASHINGTON D.C.: The US House of Representatives has passed a bill that limits the ability of US Energy Secretary Jennifer ...

US says Russian businessman traded on illegal information

BOSTON, Massachusetts: Russian businessman Vladislav Klyushin, who has ties to the Kremlin, has been accused of making tens of millions ...

NATO, Japan look to closer tires due to China, Russia concerns

TOKYO, Japan: In light of a tense security environment following Russia's invasion of Ukraine and Moscow's growing military cooperation with ...

Texas advises energy companies to prepare for winter ice storm

DALLAS, Texas: Oil and gas pipeline operators are preparing to stockpile equipment following severe weather forecasts for the next few ...

TikTok CEO to appear before US Congress to discuss security concerns

WASHINGTON D.C.: As US lawmakers investigate the Chinese-owned video-sharing app TikTok, its Chief Executive, Shou Zi Chew, has confirmed that ...

Business

Section

Historic unemployment low fails to deter profit-takers, Nasdaq sheds 194 points

NEW YORK, New York - Strong economic data failed to stem profit-taking on the major U.S. bourses on Friday, while ...

US concerned over rights at Mexico auto factory, seeks corrections

WASHINGTON D.C.: The US has again asked Mexico to investigate claims that workers at an auto parts facility of American ...

US Justice Dept. investigating Tesla claims on self-driving autos

WASHINGTON D.C.: Tesla confirmed this week that the US Justice Department has requested documents related to its Full Self-Driving and ...

At 10.5 million vehicles sold, Toyota is top automaker in 2022

TOKYO, Japan: Toyota has announced that it sold 10.5 million vehicles in 2022, maintaining its position as the world's top-selling ...

Nasdaq Composite jumps more than 3 percent on Meta surge

NEW YORK, New York - Technology stocks had a hay day Thursday with Facebook parent Meta rocketing up nearly 30 ...

Concerns about recession in Germany after economy shrinks in Q4

FRANKFURT, Germany: Data released this week showed that the German economy unexpectedly shrank in the fourth quarter of 2022, indicating ...

Movie Review

Minions: The Rise of Gru (4K UHD)