CNN is set to lay off “hundreds” of employees in the early days of President Trump’s second administration. Sources indicate that top network names, under contract, will not be affected by the cuts. The layoffs are due to budget cuts and planned business model changes. A former CNN staffer expressed deep frustration about the looming cuts, describing it as a “complete chaos.” They also hinted at further show relocations from New York City to Atlanta, impacting jobs in the expensive production areas.
Earlier this year, CNN faced financial struggles after a defamation trial resulted in a settlement, leading to a $2 billion loss between 2021 and 2023. The network’s value dropped from $4.4 billion to $2.3 billion during that period, while its revenue fell from $2.2 billion to $1.8 billion. CEO Mark Thompson has been vocal about the need for significant changes at the network.
Source: https://www.foxbusiness.com/media/cnn-lay-off-hundreds-staffers-first-days-second-trump-presidency-reports