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(HOLLYWOOD REPORTER) – The afternoon email hit some inside CNN like a ton of bricks. The cable news channel, now under Warner Bros. Discovery (its second owner in just a few years) was going to face budget cuts and layoffs. “There is widespread concern over the global economic outlook, and we must factor that risk into our long-term planning,” CNN CEO Chris Licht wrote in a late-October memo.
At a network town hall on Nov. 15, Licht confirmed to moderator Alisyn Camerota that layoffs will hit the division in December. Those cuts are part of an industrywide pivot, as media giants prepare for a difficult winter, seeking to reduce costs however they can. And news divisions will not be spared.
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At Disney, CEO Bob Chapek sent a memo to division leaders Nov. 11 outlining a hiring freeze, canceling all travel not deemed “essential” and a new “cost structure task force” that will pursue “organizational enhancements.”
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