Buyouts at CNN, Company Says No Layoffs

Yesterday, FTVLive FIRST told you that sources at CNN say that the network was looking to shed around 300 people through buyouts and layoffs.

Brian Stelter, CNN’s own media critic even went so far to tweet the news of buyouts and layoffs.

CNN is trying to downplay the layoffs part and says that buyouts are happening, but there are no layoffs. Stelter appears to have deleted his original tweet and replaced it with this one.

AS FTVLive FIRST told you, one of those leaving the used to be cable news network is Tony Maddox, the Executive VP and managing director, CNN International. He sent an internal memo to the staff.

Tony Maddox

Sources tell FTVLive that the buyouts were offered to the older staff members at CNN and word is that so far, over 100 employees have accepted the buyouts.

Insiders tell FTVLive that CNN’s head of PR Allison Gollust is trying hard to tamp down rumors of impending layoffs.

Back in 2006, FTVLive FIRST reported that NBC was going to undergo massive layoffs under then head Jeff Zucker.

NBC quickly tried to deny FTVLive’s report and the head of NBC’s PR at the time? Yep…. Allison Gollust. Those layoffs went down exactly as FTVLive reported.

CNN sources tell FTVLive that the network is hoping to get enough people to accept the buyouts, but if that doesn’t happen, layoffs are expected.

So far, around 100 people have taken the buyout offer, CNN hopes to trim about 300 people total.

A CNN sources tells FTVLive that, “There is already a hiring freeze in place for non-essential people.”

CNN’s ratings have dropped in year to year numbers and the network is and has been sitting in dead last place in the cable news ratings for quite some time.

CNN also just moved into a brand new building in New York’s Hudson Yards. It’s always nice to move into a brand spanking new building and be getting rid of employees at the same time.

Somehow, Jeff Zucker still has a job.

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