Layoff news: CNBC to cut nearly a dozen jobs; unify digital, TV news operations, says report

Feb 26 (Reuters) – CNBC is restructuring its newsroom to combine its TV and digital operations, four sources familiar with the matter told Reuters; The move will result in nearly a dozen layoffs, including the departure of the website’s managing editor Jeff McCracken.

It is part of an overhaul under Editor-in-Chief David Cho as CNBC prepares to implement a paywall on its website, the sources said, requesting anonymity because the information is not publicly available.

The layoffs are not aimed at cutting costs, and the news organization plans to add about 40 roles next year, according to two sources.

CNBC and McCracken declined to comment.

CNBC is among the most watched cable networks thanks to its live coverage of markets and global business developments.

The layoffs come weeks after CNBC’s parent company, Versant Media, split from Comcast.

Versant’s shares have fallen more than 30% since the company listed on Nasdaq in January.

In addition to CNBC, Versant also owns cable networks such as USA, MS NOW, Oxygen, and digital assets such as Fandango and Rotten Tomatoes.