New Round of Layoffs at CNN's Atlanta HQ
As CNN struggles to regain its once robust position as ratings leader, the cable network is initiating another round of layoffs at its Atlanta headquarters.
The Atlanta headquarters employs 450 people, but breaking news today indicates that 16 are being laid off from its Image and Sound unit.
Another 160 employees will find their duties changing--and some of those may also be laid off--due to the impact of "new technologies," TVNewser reports.
Since Jeff Zucker took over as CNN's chief, the network has struggled to regain ratings steam, and at one point early in 2014 the network saw historic ratings lows.
Its latest big Robert Redford-produced docu-series, Chicagoland, has seen falling ratings each week and did not debut strong in the first place.
The former number one cable network has often even slipped behind left-wing MSNBC in total viewership and is getting crushed by Fox News.
Though CNN is still posting earnings growth, its ratings and earnings pale in comparison to that of Fox News.
Yet, even with CNN's ratings troubles, MSNBC is in worse shape. As Politico's Dylan Byers noted on March 26, MSNBC is in serious financial trouble, with its profits cratering.