Layoffs continue: CNN to fire its employees
New Delhi : The layoffs began with tech companies firing thousands of their employees, and now it has reached media companies as well. According to a latest report, CNN has announced that they will be letting some of their stuff go in coming days.
A tweet from CNN reporter claimed that CNN top boss Chris Licht has informed its stuff that layoffs are at the way in an all-staff memo.
“CNN would notify a limited number of people, largely some of its paid contributors today and the impacted employees tomorrow, the tweet informed”, the tweet quoted Licht as saying.
The last major cut in CNN happened in 2018 when 50 of its employees were removed from their respective designations.
For those who are not aware, the media industry is hit by cost cutting measures as the ad market has decelerated and has left companies with no option than to reduce their staff.
A couple of days back an Indian news channel ZEE Hindustan had also gone off-air, leaving almost 400 employees jobless.