Massive cuts are coming to the house that Turner built.
According to a report from The Hollywood Reporter, Warner Bros. Discovery has started to make massive layoffs at CNN; CEO Christ Licht says “It will be a difficult time for everyone,” in a memo to the company.
Read Licht’s Memo Below:
To my CNN colleagues,
Our people are the heart and soul of this organization. It is incredibly hard to say goodbye to any one member of the CNN team, much less many. I recently described this process as a gut punch, because I know that is how it feels for all of us.
Today we will notify a limited number of individuals, largely some of our paid contributors, as part of a recalibrated reporting strategy. Tomorrow, we will notify impacted employees, and tomorrow afternoon I will follow up with more details on these changes.
It will be a difficult time for everyone. If your job has been impacted, you will learn more through an in-person meeting or via Zoom, depending on your location. In those meetings, you will receive information specific to you about notice period or any severance that would apply, and your anticipated last day. I want to be clear that everyone who is bonus eligible will still receive their 2022 bonuses, which are determined by company performance.
I know these changes affect both our departing colleagues and those who remain, and we have resources designed to support you. I will include a link to those resources in my follow up email tomorrow.
Let’s take care of each other this week.
The layoffs aren’t entirely out of left field, as Licht warned employees back in October that cuts would be necessary due to “widespread concern over the global economic outlook.”
More over at The Hollywood Reporter:
Layoffs Begin at CNN Amid Warner Bros. Discovery Cost-Cutting Plan https://t.co/KZtJNWpFn9
— The Hollywood Reporter (@THR) November 30, 2022