Fox News contributor Steve Hilton reacts to JD Vance’s exchange with CNN’s Jake Tapper about the real issues facing Americans on “The Big Money Show.”
CNN is reportedly set to lay off “hundreds” of employees early this year. That of President Donald Trump second administration.
Puck reported that CNN CEO Mark Thompson would announce the network 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 previously reported in November that CNN would face significant layoffs by March and that its impact on the network would be “highly significant.”
CNN STAFF ‘DEEPLY FRUSTRATED’ AS MINOR BUDGET CUTS AND LAYS ARE ABOUT TO IMPACT STRUGGLED NETWORK
CNN is reportedly set to lay off “hundreds” of employees at the start of the second Trump administration. (Elie Nouvelage/Bloomberg via Getty Images)
“I’m overall very sad and deeply frustrated,” a longtime CNN staffer told Fox News Digital. “Feelings permeate throughout the organization among those who have been here a long time and who feel a deep personal connection to having helped build the organization.”
“This is a time of complete and total economic model overhaul and chaos. Extremely difficult, even in the best of circumstances,” added a CNN insider.
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 need to undergo big changes to survive.
“I’m concerned because the industry is obviously struggling…I’m sure there will be cuts,” the second CNN staffer told Fox News Digital.
Fox News Digital previously reported that CNN staff were preparing for mass layoffs that would be implemented by March. (John Greim/LightRocket via Getty Images / Getty Images)
The employee suspected that “more shows would be streamlined and produced out of Atlanta” and that those most affected would be the “expensive” shows produced in New York.
CNN’s financial woes were thrust into 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.
Forensic economist Robert W. Johnson, who was hired by the plaintiff’s court to evaluate CNN’s finances, said CNN was worth $4.4 billion in 2021 but had fallen to $2.3 billion in 2023, according to tax documents provided by the network.
Johnson’s data also showed that CNN’s revenue fell from $2.2 billion in 2021 to $1.8 billion in 2023. CNN’s net profit over the same period fell by $0.6 billion. dollars in 2021 to 0.4 billion dollars in 2023.
Forensic economist Robert W. Johnson analyzed CNN’s declining revenue during a defamation lawsuit against the network last week. (Fox News Digital / Fox News)
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Brian Flood of Fox News contributed to this report.
