100 of CNN’s employees recently accepted what are called “voluntary buyouts” as the company denies reports of lay offs.
The downsize follows several hard months for the world’s oldest 24/7 cable news outlet, which saw consecutive drops in the network’s ratings. Many have attributed the loss in viewership to the perception that the news network is less than objective in its political coverage, particularly concerning Donald Trump’s presidency.
Just last month, it was found that CNN enjoys lower ratings than many mid-sized YouTube accounts. A 30 percent drop in ratings came in the wake of Special Counsel Robert Mueller’s report, which effectively exonerated President Trump of any collusion efforts with the Russian government.
Despite all of this, it looks like CNN is trying to keep itself in high spirits. CNN host Brian Stelter took to Twitter to pump up company morale.
There's a rumor making the rounds today about big impending layoffs at CNN. A CNN spokeswoman is knocking it down on the record: "No layoffs." There WERE voluntary buyouts throughout the organization, and about 100 people opted for it.
— Brian Stelter (@brianstelter) May 6, 2019
The voluntary buyouts were offered to the employees by AT&T, which owns Time Warner — CNN’s parent company.
CNN’s payroll cut may seem dismal, considering that it remains one of the most-recognized cable news networks in the world. But it is indicative of a shift in how news consumers are finding information.
The bottom line is that, after CNN and other networks slandered Catholic teenagers, assumed everything Jussie Smollett said was true without any evidence, and pandered political half-truths every day for over two years, this was inevitable. There will be, without a doubt, more cuts in CNN’s staff in the future.
Here’s Tim Pool to explain the bigger picture.
~ Patriotic Freedom Fighter