Just 10 months ago, CNN was preparing to launch a bold streaming initiative under a CEO who enjoyed broad-level trust and loyalty in the newsroom.
These days, when Chris Licht -- the man who took over as chairman and CEO of the cable news network from Jeff Zucker back in February -- issues a staff memo, the newsroom probably ducks for cover.
It was no different on Wednesday, when Licht told staffers to get ready for the hard times.
In short, he said there will be "noticeable" changes to network staff that could be "unsettling."
"There is widespread concern over the global economic outlook, and we must factor that risk into our long-term planning," Licht wrote. "All this together will mean noticeable change to this organization. That, by definition, is unsettling. These changes will not be easy because they will affect people, budgets, and projects.
"We will be strategic in this process and will minimize the impact on our core news-gathering operation and digital, both of which have already executed smart changes," Licht added. "Let me be clear: I will not allow these changes to affect our position as the world's leading news source, and we will continue to invest in growth areas. When we conclude this process, CNN will still be the largest, most-respected news-gathering organization in the world. We will continue to cover any story, anywhere, any time -- with more resources than anyone else. Full stop."
Licht's memo came after parent company Warner Bros. Discovery indicated in an SEC filing earlier this week that it will incur an organizational restructuring charge of around $1.1 billion for "severance, retention, relocation, and other related costs."
Licht's first order of business was to scuttle CNN Plus and reorganize CNN's digital team, a group that appears safe from further changes.
So far, there's been only a few big-name on-screen departures -- notably, Licht sent longtime media reporter Brian Stelter packing in August.
But expect more pain real soon.
“We have also begun to reduce or eliminate areas that aren’t core to our mission," Licht wrote. "All these moves are designed to keep CNN essential across platforms to ensure that wherever and however people get their news, they must have CNN." ■
