Fox News contributor Steve Hilton reacts to JD Vance’s exchange with CNN’s Jake Tapper over the real issues facing Americans on ‘The Big Money Show.’
CNN is reportedly set to lay off “hundreds” of employees in the early days of President Trump’s second administration.
Puck reported CNN CEO Mark Thompson will announce to his staff about the network cuts on Thursday morning while CNBC reported that the layoffs “won’t 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 previously reported in November that CNN would face major layoffs by March and that its impact on the network would be “very meaningful.”
CNN STAFFERS ‘DEEPLY FRUSTRATED’ AS LOOMING BUDGET CUTS, LAYOFFS SET TO IMPACT STRUGGLING NETWORK
CNN is reportedly set to lay off “hundreds” of employees in the early days of the second Trump administration. ( Elijah Nouvelage/Bloomberg via Getty Images)
“I am overall very sad and deeply frustrated,” the longtime CNN staffer told Fox News Digital. “Feelings which are pervasive throughout the organization among those who have been here a long time and feel a deep personal connection to having helped build the organization.”
“It’s a time of a complete and utter business model overhaul and chaos. Extremely difficult even under the best circumstances,” the CNN staffer added.
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Another CNN employee cited Thompson, who has been on the job for just over a year and has been outspoken about how the company will have to undergo big changes to survive.
“I am worried because the industry is obviously in trouble… I’m sure there will be cuts,” the second CNN staffer told Fox News Digital.
Fox News Digital previously reported that CNN staffers was bracing for mass layoffs to be implemented by March. ( John Greim/LightRocket via Getty Images) / Getty Images)
The employee suspected “more shows will be streamlined and produced out of Atlanta” and that those impacted the most are the “expensive” shows being produced in New York City.
CNN’s financial struggles were put under the spotlight last week after a jury found the network had defamed a Navy veteran and approved that he could seek punitive damages. The legal battle resulted in a settlement.
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Forensic economist Robert W. Johnson, who was hired by the plaintiff’s legal time to assess CNN’s finances, testified CNN was worth $4.4 billion in 2021 but dropped to $2.3 billion in 2023, according to provided tax documents from the network.
Johnson’s data also showed that CNN’s revenue dropped from $2.2 billion in 2021 to $1.8 billion in 2023. CNN’s net income over the same period dropped from $0.6 billion in 2021 to $0.4 billion in 2023.
Forensic economist Robert W. Johnson analyzed CNN’s declining revenue 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.
