Report: CNN Laying Off Dozens Of Employees After Missing Revenue Goals
CNN is preparing to lay off dozens of employees after missing projected revenue goals, a new report reveals.
Up to 50 CNN employees are going to be out of work this week, Vanity Fair reports. The cuts will target “employees who work in premium businesses including CNN Money, video, product, tech and social publishing,” according to the report.
The cuts are the latest indication that CNN executives plan to seriously downgrade their digital operations. (RELATED: 7 Times CNN Botched The News In 2017)
CNN is also scaling back the company’s investment in its business app, CNN MoneyStream, BuzzFeed reported earlier this month.
In December, CNN pulled the plug on their daily Snapchat show, “The Update,” The Wall Street Journal first reported. The show lasted just four months before getting the boot.
CNN in the President Trump era has been defined by the network’s adversarial relationship with the president, who has often referred to the network as “fake news” and “very fake news.” (RELATED: CNN Slammed For Fawning Over Sister Of North Korean Dictator)