Discovery (its second owner in just a few years) was going to face budget cuts and layoffs. At a network town hall on Nov. 15, Licht confirmed to moderator Alisyn Camerota that layoffs will hit the division in December. Those cuts are part of an industrywide pivot, as media giants prepare for a difficult winter, seeking to reduce costs however they can. While it is not yet clear how widespread layoffs and staff reductions will be across the TV news landscape, the belt-tightening is in full effect. At CNBC, president KC Sullivan told staffers Nov. 3 that the channel had a new mandate.

Source: CNN November 17, 2022 01:40 UTC