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Amidst falling ratings, CNN is preparing to lay off hundreds of employees in the near future, which could include some of the network’s biggest stars due to their high salaries.
According to a report from Puck News reporter and former CNN employee Dylan Byers, mass layoffs are on the horizon.
“In the next few months, I’m told, CNN will implement another round of layoffs that will impact hundreds of employees across the organization,” the report from Byers read.
CNN CEO Mark Thompson is instituting a new focus for the struggling network that will feature a digital focus. The layoffs will largely affect the production sector of the company, but high-dollar hosts could also be on the chopping block.
The report from Byers claimed that anchors like Wolf Blitzer and Jake Tapper were recently denied pay raises. That report comes on the heels of the news that Chris Wallace — who reportedly made $8.5 million per year — is departing the company at the end of his contract to look at an independent digital future.
CNN has been mired in slumping ratings over recent years. On election night, the network’s ratings were down more than 50% compared to 2020. It was passed by MSNBC in the cable news ratings on the evening.
