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Tipsheet

It's Official: Layoffs Are Coming to CNN

AP Photo/Ron Harris

CNN CEO Chris Licht sent a memo to his employees on Wednesday to inform them layoffs are currently underway at the struggling news outlet as it tries to regain its creditability and profitability.

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"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," Licht wrote.

Litch said those being informed today are mainly paid contributors, "as part of a recalibrated reporting strategy," with more layoff notices being given to employees tomorrow. 

"It will be a difficult time for everyone...I know these changes affect both our departing colleagues and those who remain, and we have resources designed to support you," Litch added.

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CNN has been going under drastic changes in order for the news outlet to be more profitable without Donald Trump being president. The channel is constantly behind Fox News and MSNBC in ratings, often having fewer than 1 million viewers in critical time slots. This year marked the first time in many years CNN made under $1 billion, missing it by $100 million, according to the New York Times.

CNN's expensive CNN+ gamble also cost the network hundreds of millions dollars for startup and marketing, only for them to shut it down less than a month after launch due to subscriptions not being enough to justify the costs.

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