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CNN Laying Off 300 employees

B

bobjim45

200 will be fired and 100 will be offered buyouts.

https://www.ftvlive.com/sqsp-test/2019/5/6/breaking-cnn-to-to-cut-bodies

Tony Maddox is among those that are leaving, he has overseen CNN International as a VP and managing director. In the last few years CNN International has cut a lot of live programming and in its place aired taped sponsored programming or simulcast CNN USA. also, CNN has either made cuts or shutdown many of there worldwide bureaus. For a long time CNN International has been a lot more profitable than the stateside operations.

https://www.ftvlive.com/sqsp-test/2019/5/6/breaking-cnn-internal-memo

CNN will still have around 3000 employees worldwide.
 
Last edited:
bobjim45 said:
200 will be fired and 100 will be offered buyouts.

https://www.ftvlive.com/sqsp-test/2019/5/6/breaking-cnn-to-to-cut-bodies

Tony Maddox is among those that are leaving, he has overseen CNN International as a VP and managing director. In the last few years CNN International has cut a lot of live programming and in its place aired taped sponsored programming or simulcast CNN USA. also, CNN has either made cuts or shutdown many of there worldwide bureaus. For a long time CNN International has been a lot more profitable than the stateside operations.

https://www.ftvlive.com/sqsp-test/2019/5/6/breaking-cnn-internal-memo

CNN will still have around 3000 employees worldwide.
Click to expand...

Part of their problem has been the increasingly good BBC competition on the international scene. I fortunately have one of the BBC services on FiOS cable, and it's my news source of choice.
 
DavidEduardo said:


Part of their problem has been the increasingly good BBC competition on the international scene. I fortunately have one of the BBC services on FiOS cable, and it's my news source of choice.
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BBC World News is also on YouTube TV. It has its detractors on the far right, as do all outlets positioning themselves as "news" other than Fox and the tinfoil-hat brigade at InfoWars, OANN and Breitbart, but for comprehensive global news, it can't be beat. I'm afraid its pace is too slow, its coverage too deliberative, and its focus too Europe/Africa/Asia for most US viewers, though. Whether Americans get their news through the networks, CNN, Fox or MSNBC, they expect and get a newscast packed with domestic stories.
 
CNN is claiming that these employees are actually taking voluntary buyouts.

But we all know how that works. Refuse the buyout and eventually you WILL
be laid off.
 
Probably not related with such a small sample size but still news nonetheless. CNN's ratings are down significantly, 26% for total viewers and 41% for the 25-54 demo for April. https://nypost.com/2019/05/01/cnns-...medium=site buttons&utm_campaign=site buttons
MSNBC and Fox have seen some drop off too but not as drastic.

Don CT said:
It's cord cutters. I think it's having an effect on the whole industry. Or it's an AT&T move to cut costs.
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Interesting, Directv will be adding CNN International soon, that will give the channel a significant boost in a subscriber base but the affiliate fee rate for CNNI is at a CNBC world level.
 
TheBigA said:
Bingo, we have a winner! Cable TV is in trouble. Unless you're a subscription service like HBO, you're likely to have job cuts.
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Yet the merger now includes consolidating HBO operations on the far West Side and the closing of the Long Island tech center, with what has been reported as between 60 and 100 layoffs. AT&T is cutting expenses all over, using the hackneyed excuse of "we are only eliminating duplicated functions".
 
DavidEduardo said:


Yet the merger now includes consolidating HBO operations on the far West Side and the closing of the Long Island tech center, with what has been reported as between 60 and 100 layoffs. AT&T is cutting expenses all over, using the hackneyed excuse of "we are only eliminating duplicated functions".
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They are trying to reduce their debt load after such a huge purchase. Time will tell if it was smart of them to buy Turner/Time Warner if they can't afford it. They are looking at cutting what is expendable, not if it is a wise business decision.
 
You have to wonder if AT&T bit off more than they can chew. DirecTV is hemorrhaging subscribers, the NFL is thinking about shopping Sunday Ticket. Adding The Time Warner Turner purchase might put them over the top.
 
TheBigA said:
DirecTV is owned by AT&T, who also owns CNN.
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Yes, I don't think Directv is missing any other former Turner/TW networks but if Directv is its likely they would be added in short order, but even in different divisions in the same company; contracts need to be signed and money changes hand. The Affiliates Fee for CNN, CNNI, TBS etc will still be passed to Directv customers.
 
TheBigA said:
I wonder how long they'll stay in the TimeWarner Center. That's some very expensive real estate.

Time Warner sold the building 5 years ago, and moved out last year. It's owned by some conglomerate in Dubai.
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Deutsche Bank will be leasing that space in 2021, it's still going to take some time to move everything to its new building 30 Hudson Yards.
 
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