CNN is looking to cut costs by year’s end, including staff layoffs throughout the company, network chief Chris Licht announced in an all-staff memo Wednesday, the Chairman and CEO’s first sweeping move to reform the news network since taking control less than six months ago.
“There is widespread concern over the global economic outlook, and we must factor that risk into our long-term planning,”Licht wrote the memo to. “All this together will mean noticeable changes to this organization.
“Our aim is to have most of these decisions made by the end of the year so we can start 2023 feeling settled and prepared for the future.”
Licht has made targeted, dramatic changes, including the removal of CNN+’s subscription service in its early days and the parting company with anchors and journalists Brian Stelter, John Harwood, and zesting up its morning program with Don Lemon, former prime-time host. But the impending cuts will be Licht’s first company-wide reorg that, by the sound of it, may be painful.
“These changes will not be easy,” Licht wrote, “because they will affect people, budgets, and projects.”
Licht assured the staff that there will be no reductions. “minimize the impact on our core newsgathering operation and Digital, both of which have already executed smart changes.”
“Let me be clear: I will not allow these changes to affect our position as the world’s leading news source, and we will continue to invest in growth areas,”He continued. “When we conclude this process, CNN will still be the largest, most-respected newsgathering organization in the world. We will continue to cover any story, anywhere, any time – with more resources than anyone else. Full stop.”
However, Licht added: “When we emerge on the other side, CNN will be a stronger, more nimble organization, ready to weather whatever the global economy throws at us and to grow into the future.”
