CNBC to unify digital and TV news operations, cut nearly a dozen jobs, sources say

CNBC is restructuring its newsroom ​to unify its TV and digital operations in a move that would result in nearly a dozen layoffs ‌including the ⁠departure ⁠of the website's managing editor, Jeff McCracken, four sources ​familiar with the matter told Reuters.

The cuts are part ​of an overhaul under Editor-in-Chief David Cho, as CNBC prepares to introduce a paywall on ​its website, the sources said, ⁠requesting anonymity ‌because the information was not public.

The ​layoffs ​are not aimed at cutting costs ⁠and the news organization plans to add ​some 40 roles in the coming ​year, according to two of the 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 Versant Media, the parent company of CNBC, ​was spun ​out of ⁠Comcast.

Shares of Versant have declined more than 30% since the company listed on the Nasdaq in ​January.

Besides CNBC, Versant also owns cable networks such as USA, MS NOW, Oxygen, as well as digital assets like Fandango and Rotten Tomatoes.