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CNET to cut its workforce by 10% according to inside sources

Earlier this month, DailyTech reported that multimedia conglomerate Ziff Davis Media was in some serious financial trouble. The company has approximately with $500M in liabilities with only $313M in assets. As a result the company filed for Chapter 11 bankruptcy protection.

CNET bought much of Ziff Davis' property over the last few years, including the tech portal ZDNet.com.  However, CNET seemed to have broken the ZD curse, reporting double digit growth and net profits since 2006.

Earlier today, CNET Networks announced internally it will lay off approximately 10% of its North American work force, or approximately 120 employees.

CNET CEO Neil Ashe sent an email out to all of its employees detailing the plan to slim up central organization, and to focus editorial staff to individuals on content creation. 

Specifically, Ashe mentions that TV.com will transition into a more community-driven portal. "TV.com will put more emphasis on areas of most interest to their audience including entertainment features, breaking news, trivia competition, and polls, rather than original video programming," he writes.

Cuts are expected to take place across all of CNET's operations including CNET.com, Gamespot, News.com, TV.com,  and CNET's blog networks. Employees affected received notifications today and an official announcement is said to be on the way in the coming days.





"It seems as though my state-funded math degree has failed me. Let the lashings commence." -- DailyTech Editor-in-Chief Kristopher Kubicki
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