Report: Major media network to lay off up to 50 employees
According to a report released Monday by Vanity Fair, the giant CNN network is planning to lay off as many as 50 employees this week, despite the bump in ratings they’ve received from leveraging the activities of the Trump White House.
Vanity Fair reported:
But despite the so-called Trump Bump, CNN appears to be re-thinking at least some elements of its digital strategy. I’ve learned that CNN, a key property in AT&T’s planned takeover of CNN’s parent company, Time Warner, is targeting big savings on the digital side, with as many as 50 jobs around the globe scheduled to be eliminated this week, according to people familiar with the matter, who noted the exact number could still be in flux.
The cuts will affect employees who work in premium businesses including CNN Money, video, product, tech and social publishing, these people said. Several high profile digital initiatives are being scaled back, including CNN’s virtual reality productions and its efforts on Snapchat, where CNN recently nixed a live daily webcast after just four months. CNN’s business-oriented MoneyStream app, as BuzzFeed reported earlier this month, is in the gutter as well. A team that works on the digital extensions of documentary-style TV shows, such as Anthony Bourdain’s Parts Unknown and Lisa Ling’s This is Life, as well as the Brooke Baldwin series American Woman, is also being reorganized.
“We’ve been transparent about our strategy,” said Matt Dornic, a representative for CNN. “In order to innovate, grow and experiment, we’ve added more than 200 jobs in the past 18 months. Not every new project has paid off so we will stop some activities in order to reallocate those resources and enable future experimentation. Organizations that do not make big bets and continuously evolve are the ones that fail.”
Facebook has SIGNIFICANTLY reduced the distribution of DML NEWS posts, and instead fills newsfeeds with news from the mainstream media. The way to fight back is by sharing our posts with your family and friends. Please take a moment now and click the share button. SHARE NOW
Trending on DML News
- BREAKING: Migrants defy police, break through fence at Guatemala-Mexico border (VIDEO)
- VIDEO: Thousands of caravan migrants defy Mexico, wait on bridge at border after breaking down fence
- REPORT: ‘Halloween’ Billboard Hijacked to Target Maxine Waters (PHOTO)
- VIDEO: University of Montana students spell out messages on mountain ahead of Trump visit
- REPORT: Donor REVEALED for GOP Women’s Group Attacking Trump
- REPORT: Governor suspends reelection campaign, endorses Dem opponent
- BREAKING: Uncovered report reveals Claire McCaskill’s husband assaulted and peed on ex-wife
- REPORT: Manafort shows up to court in wheelchair
- BREAKING: White House responds to Saudi Arabia’s report on Khoshoggi’s death
- REPORT: New clues from 911 call emerge in case of missing Wisconsin girl