100 CNN Employees Take Voluntary Buyouts
As AT&T merges with WarnerMedia, 100 CNN employees have accepted voluntary buyouts due to its parent company’s restructuring.
“A network spokesperson tells Deadline the exits are purely related to the buyouts and do not involve any layoffs, contrary to a press report earlier on Monday,” said a Deadline report. “The buyouts are consistent with similar offerings at HBO and Turner and will see dozens of seasoned employees leave the news brand.”
According to the report, there is no truth to early Monday reports that there would be up to 500 layoffs at the former cable news titan. The report did not say which employees took buyouts, but noted that CNN boss Jeff Zucker will move into role of chairman of WarnerMedia News & Sports, and president of CNN.
Several mainstream media outlets, including BuzzFeed, VICE, and HuffPost have laid off employees in recent months.
Big League Politics reported:
According to The Hollywood Reporter, Vice is expected to cut 10 percent of its workforce.
“Around 250 jobs are expected to be cut, a company spokeswoman tells The Hollywood Reporter, as the 2,500-person Vice reduces redundancies internationally and reorients to focus on growth areas like film and television production and branded content. All departments at every level are expected to have layoffs, from IT to finance to television,” the report said.
The layoffs come just a week after BuzzFeed and HuffPost announced cuts to their own staffs. All in all, it’s a tough time to be in the leftist fake news business.
“Having finalized the 2019 budget, our focus shifts to executing our goals and hitting our marks,” CEO Nancy Dubuc wrote in a memo to staff on Friday. “We will make Vice the best manifestation of itself and cement its place long into the future.”
Follow Peter D’Abrosca on Twitter: @pdabrosca
Like Peter D’Abrosca on Facebook: facebook.com/peterdabrosca
Preorder Peter D’Abrosca’s Book: “Enemies: The Press vs. The American People”