CNN to lay off hundreds of employees in first days of Trump’s second presidency: reports
Fox News anchor Steve Hilton responds to JD Vance’s exchange with CNN’s Jake Tapper on the real issues facing Americans on ‘The Big Money Show’.
CNN is reportedly planning to lay off hundreds of employees in the early days of President Trump’s second administration.
Puck said CNN CEO Mark Thompson will notify staff of the network outage on Thursday morning, CNBC reported.
CNN did not immediately respond to a request for comment.
Fox News Digital Earlier in November, CNN reported that it would face major layoffs in March and that the impact on the network would be “very significant.”
CNN Staff ‘Furious’ Over Budget Cuts, LAYOFFS Set To Impact Struggling Network.
CNN is reportedly set to lay off hundreds of employees in the first term of the Trump administration. (Elias Nouvelage/Bloomberg via Getty Images)
“Overall, I’m very sad and very upset,” a longtime CNN employee told Fox News Digital.
“It’s a time of full and clear business model reform and chaos. Even in the best of circumstances, it’s very difficult,” the CNN colleague added.
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Another CNN employee quoted Thompson, who has been on the job for more than a year, and has made clear how the company needs to make major changes to survive.
“I’m worried because the industry is in trouble … I’m sure,” a second CNN associate told Fox News Digital.
Fox News Digital previously reported that CNN employees were calling for mass layoffs through March. (John Graham/Lightrocket via Getty Images)
The employee suspected that “more shows will be mixed and produced out of Atlanta” and that the hardest hit would be the “expensive” shows being produced in New York City.
CNN’s financial struggles came into the spotlight last week after a judge ruled that the network had Destroyed the reputation of a Navy veteran and approved that he could claim punitive damages. The legal battle has resulted in a settlement.
CNN defamation trial: Losing lawsuit expected but still bad news for network, insider says
Forensic economist Robert W. Johnson, who was hired during plaintiff’s legal tenure to evaluate CNN’s finances, testified that CNN had It is estimated to be worth $4.4 billion in 2021, but That will drop to $2.3 billion in 2023, according to tax filings from the network.
According to Johnson data, CNN’s revenue will drop from $2.2 billion in 2021 to $1.8 billion in 2023.
Forensic economist Robert W. Johnson analyzed CNN’s declining revenue in the wake of last week’s defamation trial against the network. (Fox News Digital / Fox News)
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Fox News’ Brian Flood contributed to this report.