CBS is in trouble. The network -- including its news and entertainment divisions -- has faced many financial hurdles over the past few years, which eventually led to a merger with the Viacom media conglomerate last December. Even though that combination gave the company access to more resources, the business has still had to deal with financial hardships, which led to a round of restructuring and layoffs on Tuesday.
According to The Wrap, this includes "veteran White House reporter Mark Knoller, Pentagon reporter Cami McCormick and correspondent Dean Reynolds,” among others.
In another article, posted on Wednesday by Rick Porter, a staff writer for The Hollywood Reporter magazine, “the cuts at the broadcast network come a month after similar actions at the company's cable properties.”
Earlier this week, a CBS spokesperson stated:
We are restructuring various operations at CBS as part of our ongoing integration with Viacom, and to adapt to changes in our business, including those related to COVID.
Our thoughts today are with our departing colleagues for their friendship, service and many important contributions to CBS.
CBS News President Susan Zirinsky wrote in a memo to her staff: “Working with reduced budgets, we have had to make some extremely difficult decisions. I’m sad to report today that some of our colleagues and good friends will be leaving the company.”
Zirinsky also stated: "These decisions are particularly painful for our entire organization, which has performed at the highest level during the COVID-19 pandemic, overcoming so many obstacles. But this restructuring is necessary to ensure CBS News remains strong.
“No one could have foreseen the economic fallout from the pandemic coming on top of the cost savings initiatives already underway from the merger of CBS and Viacom,” she noted. In fact, she indicated, similar changes "are happening across many CBS divisions today and have taken place in Viacom divisions over the past few months.” “While it is a painful day,” Zirinsky concluded, “I want to thank every single person who is leaving us for their dedication to this organization.”
CNN journalist Yashar Ali hinted that other, more highly paid journalists, could have sacrificed for their fellow journalists.
CBS This Morning co-host Gayle King, it should be pointed out, makes about $11 million a year.