A round of layoffs has been enacted at CNBC as the network works to unify its digital and TV news operations following Versant’s split from NBCUniversal.
The network says that fewer than a dozen staffers saw their positions eliminated. However, it shared that the cuts are more of a reorganization than a downsizing, saying that it plans to add more editorial jobs in the coming months.
”The changes made today are to align CNBC’s newsroom structure for the future, they are not driven by cost cutting,” a CNBC spokesperson said. “We expect to hire more than 40 new editorial roles over the next year across TV, Digital and direct-to-consumer platforms.”
All layoffs related to the reorganization of its editorial department have been completed.
The editorial operations for CNBC are now being helmed by Editor-in-Chief David Cho, who joined the network last year. Cho previously worked in the same role at Barron’s and as the business editor of The Washington Post.
The cuts for CNBC come as Versant prepares to showcase its first-ever financial results next week.
Barrett Media produces daily content on the music, news, and sports media industries. Sign up for our newsletters to stay updated and get the latest information right in your inbox.
