International news network CNN bade farewell to hundreds of employees on Thursday amid what the outlet called “the deepest cuts to the organization in years.”
The fairly new CEO of the network, Chris Licht, who took over in May, said in an all-staff memo that the layoffs were a “gut punch” adding that it was hard to let go of the valuable staffers.
“To our departing colleagues, I want to express my gratitude for your dedicated and tireless service and for your many contributions to CNN,” the memo shared by CNBC read.
The CEO has warned the employees last month about the looming crisis and consequent cut down. Licht said that paid contributors would be impacted the most, with the outlet depending on its own journalists.
It has not yet been revealed exactly how many people have been fired by the number is estimated to be in hundreds out of the 4,400 employees.