US-headquartered global financial news services CNBC and CNBC.com yesterday became the latest media companies to cut jobs, shedding over 40 staff.
The move follows layoffs in recent months by the duo’s parent NBC and by the CNN division of AOL Time Warner [WAMN: 11-Jan-01].
CNBC’s 24-hour news service cut around 4% of its employees, while its eponymous website axed 26%. CNBC.com also announced plans to strip its coverage to just the financial markets.
News source: Financial Times