Fox News contributor Steve Hilton reacts to JD Vance's exchange with CNN's Jake Tepper about the real problems Americans face on the “Big Money Show.”
CNN is reportedly set to lay off “hundreds” of employees in the first few days President Trump's The second government
Puck reported that CNN CEO Mark Thompson will announce the network's shutdown to his staff Thursday morning, while CNBC reported that the layoffs “will not affect CNN's established names under contract,” according to sources. ”
CNN did not immediately respond to a request for comment.
Fox News Digital It was previously reported in November that CNN would face major layoffs by March and that the impact on the network would be “very significant.”
CNN staff 'deeply disappointed' as budget cuts await, layoffs to affect struggling network
CNN is reportedly set to lay off “hundreds” of employees in the early days of Trump's second administration. (Elijah Novelage/Bloomberg via Getty Images)
“Overall, I'm very sad and deeply disappointed,” the longtime CNN employee told Fox News Digital. “The sentiment is pervasive throughout the organization among those who have been here a long time and feel a deep personal connection to helping build the organization.”
The CNN staffer added: “This is a time of complete and utter business model restructuring and chaos. It's very difficult even under the best of circumstances.”
Plaintiff in CNN defamation trial celebrates 'acquittal' after courtroom drama: 'I'm glad it's over'
Another CNN employee noted that Thompson, who has been on the job for more than a year, has been outspoken about how the company must undergo major changes to survive.
“I'm concerned because obviously the industry is struggling … I'm sure there will be cuts,” a second CNN employee told Fox News Digital.
Fox News Digital previously reported that CNN employees are preparing for mass layoffs by March. (John Grimm/Lightrocket via Getty Images)
The employee suspected that “more shows will be performed and produced in Atlanta” and that the ones with the greatest impact would be the “expensive” shows produced in New York City.
CNN's financial struggles came under the spotlight last week after a jury found the network was rigged A veteran defamed the Navy and confirmed that he could seek damages. The lawsuit resulted in a settlement.
CNN defamation trial: Losing case was expected, but still a blow to network, insider says
Forensic economist Robert W. Johnson, who was hired at the time of the plaintiff's lawsuit to evaluate CNN's finances, testified that CNN was worth $4.4 billion in 2021 but was worth $2.3 billion in 2023, according to the network's tax filings. billion dollars decreased.
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 income is down from $0.6 billion in 2021 to $0.4 billion in 2023 over the same period.
Forensic economist Robert W. Johnson analyzed the decline in CNN's revenue during the defamation trial against the network last week. (Fox News Digital / Fox News)
Click here to get the FOX NEWS program
Fox News' Brian Flood contributed to this report.