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CNN Firing Dozens Ahead Of AT&T Takeover: Report

CNN Firing Dozens Ahead Of AT&T Takeover: Report

As CNN prepares to apply lipstick to its porcine snout ahead of AT&T's planned $85 billion acquisition of parent company Time Warner, dozens of employees are about to receive their walking papers, reports Vanity Fair.

The layoffs, thought to include as many as 50 jobs globally, are said to affect employees in premium business segments, including CNN Money, video, product, tech and social publishing - effectively reversing course on several ill-fated digital ventures launched by president Jeff Zucker designed to compete with Vice and BuzzFeed.

CNN is also said to be scaling back its "virtual reality productions," as well as efforts to integrate the Snapchat platform - for which the network recently canceled a live daily webcast after only four months. CNN is also planning to gut its business-oriented MoneyStream app as well, as reported earlier this month by BuzzFeed.

As the network employs thousands of people around the world and brings in $1 billion annually, the looming cuts amount to "pruning" of sorts - however they do point to the latest in a string of poor decisions by the "Fake News Network" which has made it abundantly clear they are vehement enemies of the sitting US President.

“Not every new project has paid off so we will stop some activities in order to reallocate those resources and enable future experimentation,” CNN representative Matt Dornie told Vanity Fair.


Continued: https://www.zerohedge.com/news/2018-02-12/cnn-firing-dozens-ahead-att-takeover-report

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