Feb 26 (Reuters) – CNBC is restructuring its newsroom to unify its TV and digital operations in a transfer that may end in nearly a dozen layoffs together with the departure of the web site’s managing editor, Jeff McCracken, 4 sources acquainted with the matter instructed Reuters.
The cuts are a part of an overhaul underneath Editor-in-Chief David Cho, as CNBC prepares to introduce a paywall on its web site, the sources stated, requesting anonymity as a result of the knowledge was not public.
The layoffs aren’t aimed toward chopping prices and the news group plans to add some 40 roles within the coming 12 months, in accordance to two of the sources.
CNBC and McCracken declined to remark.
CNBC is among the many most-watched cable networks thanks to its dwell protection of markets and world enterprise developments.
The layoffs come weeks after Versant Media, the dad or mum firm of CNBC, was spun out of Comcast.
Shares of Versant have declined greater than 30% for the reason that firm listed on the Nasdaq in January.
In addition to CNBC, Versant additionally owns cable networks equivalent to USA, MS NOW, Oxygen, in addition to digital property like Fandango and Rotten Tomatoes.
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