Editor's Corner
CNN TO LAY OFF 400 EMPLOYEES
The Wall Street Journal reported yesterday that CNN, a unit of the newly formed AOL Time Warner, Inc., announced that it is laying off about 400 employees, about 10% of its work force. About one third of the cuts are coming from CNN's online staff, another third from CNN's programming ranks and the rest from the news group. That is bad news.
CNN is a major employer in the Atlanta Metro area and these lay offs will undoubtedly have an economic impact in the Metro area. CNN has been loosing viewers to Fox News and other networks. The ratings are down. As a result, the advertising revenue has suffered accordingly. On top of all this, anchorman Bernard Shaw announced his retirement last month.
According to The Wall Street Journal a number of shows are destined to be cancelled including Tony Guida's CNNfn show "Entrepreneurs Only". Business shows "Your Money" and "Movers" have already been cancelled. Bob Furnad head of "Headline News", a news channel whose ratings have been declining for years and whose basic format has seen little changes since its inception, resigned last Friday. Shelby Coffey III of CNNfn Web site and TV channel resigned last Tuesday.
Among the survivors are prominent names like Wolf Blitzer, Greta Van Susteren, Chritiane Amanpour and Jeff Greenfield. Most of the affected employees will be notified sometime next week.
James C. Stathis
Associate Editor
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