CNN is experiencing major restructuring. The network is suffering as a result massive cost-cutting.
And CNN is going up in flames after receiving this one letter they never expected.
The network’s running expenses have hit $882 million each year, and profits have dropped to their lowest level since former President Donald Trump entered office, according to new CNN CEO Chris Licht.
In a follow-up email to all workers, Licht stated that the first casualties of budget cuts will be on-air contributors, followed by other staff members.
“Our people are the heart and soul of this organization,” Licht wrote via email. “It is incredibly hard to say goodbye to any one member of the CNN team, much less many.
I recently referred to this process as a gut punch since I know how it feels for all of us.”
“Today we will notify a limited number of individuals, largely some of our paid contributors, as part of a recalibrated reporting strategy,” he continued.
“Tomorrow, we will notify impacted employees, and tomorrow afternoon I will follow up with more details on these changes.
“It will be a difficult time for everyone,” the CEO added. “If your job has been impacted, you will learn more through an in-person meeting or via Zoom, depending on your location.
You will get information particular to you concerning the notice period or any severance that may apply, as well as your projected final day, at those meetings.”
“I want to be clear that everyone who is bonus eligible will still receive their 2022 bonuses, which are determined by company performance,” Licht assured CNN staff.
“I know these changes affect both our departing colleagues and those who remain, and we have resources designed to support you. I will include a link to those resources in my follow-up email tomorrow.”
When Licht took over the defunct CNN+ – the streaming service that Licht’s predecessor, disgraced former network president Jeff Zucker, put $300 million into – the platform had just 10,000 subscribers at best.
CNN is a network in transition, and it is battling to survive, whether their talking heads like it or not.
Following Trump’s election victory in 2016, CNN transformed into a 24-hour, seven-day-a-week, 365-day-a-year anti-Trump propaganda operation that bore no resemblance to a genuine “news network,” and their ratings skyrocketed.
However, after the former President left office, CNN’s infatuation with Trump and other left-wing propaganda shattered the network, with no CNN programming attracting more than one million viewers in primetime for months, an almost unheard-of feat among major networks.
The simple fact was that Donald Trump had been CNN’s meal ticket for a long time.
However, the gravy train has run dry, and many of CNN’s self-proclaimed “journalists” are finally getting the harsh reality check they sorely needed.
Stay tuned to Prudent Politics.