Fox News contributor Steve Hilton reacts to JD Vance’s exchange with CNN’s Jake Tapper about the real problems facing Americans on ‘The Big Money Show.’
CNN is reportedly set to lay off “hundreds” of employees in the first few days President Donald Trump another administration.
Puck reported that CNN CEO Mark Thompson will announce the network’s cuts to his staff Thursday morning, while CNBC reported that the layoffs “will not affect CNN’s most recognizable names, who are under contract,” according to sources.
CNN did not immediately respond to a request for comment.
Fox News Digital he previously reported in November that CNN would face major layoffs by March and that his impact on the network would be “very significant.”
CNN is reportedly set to lay off “hundreds” of employees in the first days of the second Trump administration. (Elijah Nouvelage/Bloomberg via Getty Images)
“I’m generally very saddened and deeply frustrated,” the longtime CNN employee told Fox News Digital. “Sentiments that permeate the entire organization among those who have been here a long time and feel a deep personal connection to what they helped build.”
“It is a time of complete and utter business model change and chaos. Extremely difficult even under the best of circumstances,” the CNN staffer added.
Another CNN employee quoted Thompson, who has been on the job for just over a year, and has been outspoken about how the company will have to go through major changes to survive.
“I’m concerned because the industry is clearly in trouble … I’m sure there will be cuts,” another CNN employee told Fox News Digital.
Fox News Digital previously reported that CNN staffers are preparing for mass layoffs that will take place through March. (John Greim/LightRocket via Getty Images/Getty Images)
The employee suspected that “more shows will be staged and produced outside of Atlanta” and that the ones most affected are the “expensive” shows produced in New York.
CNN’s financial difficulties were thrust into the spotlight last week after a jury found that the network had slandered a Navy veteran and granted that he may seek punitive damages. The legal battle resulted in a settlement.
CNN LIBEL TRIAL: CASE EXPECTED TO LOSE, BUT STILL SEVERE BRUISE FOR NETWORK, INSIDER SAYS
Forensic economist Robert W. Johnson, hired by prosecutors to evaluate CNN’s finances, testified that CNN was worth $4.4 billion in 2021 but had fallen to $2.3 billion in 2023, according to tax documents filed by the network. delivered.
Johnson’s data also showed CNN’s revenue fell from $2.2 billion in 2021 to $1.8 billion in 2023. CNN’s net income over the same period fell from $0.6 billion in 2021 to 0.4 billion dollars in 2023.
Forensic economist Robert W. Johnson analyzed CNN’s revenue decline during a defamation trial against the network last week. (Fox News Digital / Fox News)
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Fox News’ Brian Flood contributed to this report.
