CNBC has laid off fewer than 12 editorial staff as the Versant-backed cable network overhauls its structure under new editor-in-chief David Cho.
People familiar with the matter said Jeffrey McCracken, editor-in-chief of CNBC’s digital news venue, will be among those leaving as a result of the reorganization.
“The changes made today are intended to align CNBC’s newsroom structure for the future and are not driven by cost-cutting. We plan to hire more than 40 new editorial positions over the next year across our television, digital and direct-to-consumer platforms,” CNBC said in a statement.
Reuters previously reported on the job cuts.
Cho, who was previously the top editor at News Corp.’s Barron’s, joined CNBC as editor-in-chief of business news media on Aug. 11, replacing Dan Colarusso, senior vice president of business news gathering at CNBC, and Jay Yarrow, executive editor at CNBC.com. His duties included breaking down the silos between CNBC’s television and online editorial operations. Prior to joining Barron’s, Mr. Cho was the business editor of The Washington Post. He also worked for The Star-Ledger, The Philadelphia Inquirer, and The Korea Herald.
CNBC is one of the cable networks formerly owned by NBCUniversal and spun off as Versant. Versant is a new independent company that debuted on the public market in early 2026. Versant is scheduled to release its first earnings report next week.
In recent months, CNBC has scrapped some of the more glamorous programming it once featured in favor of content geared toward stock and bond enthusiasts who come for the latest information on the ups and downs of the markets. In recent months, CNBC has launched a streaming product that lets subscribers watch both U.S. and international programming, and appointed one of its top producers to oversee the creation of new “verticals” such as wealth, women’s leadership and sports business.
