Shelby Coffey III, president of CNN's business and financial news network CNNfn, has resigned.

His departure coincides with the widely expected jobs cull [WAMN: 11-Jan-01] that will witness the disappearance of ten per cent of CNN’s staff – some four hundred jobs.

A third of the redundancies will be at interactive units CNN.com and CNNfn.com; around the same number will be axed at the programming division; while the remaining losses are spread across the company.

News source: BBC Online Business News (UK)