CNBC laid off less than a dozen editorial employees as the Versant-backed cable network reviews its structure under a new editor in chief, David Cho.
Among those who will depart because of the reorganization is Jeffrey McCracken, managing editor of CNBC’s digital-news venues, according to a person familiar with the matter.
“The changes made today are to align CNBC’s newsroom structure for the future, they are not driven by cost cutting. We expect to hire more than 40 new editorial roles over the next year across TV, Digital and direct-to-consumer platforms.,” CNBC said in a statement.
Reuters previously reported on the layoffs.
Cho, formerly the top editorial executive at News Corp.’s Barron’s, joined the business-news outlet August 11 as its editor in chief, replacing both Dan Colarusso, senior vice president of CNBC’s business newsgathering and Jay Yarow, the executive editor of CNBC.com. Among his mandates was to break down any silos between CNBC’s TV and online editorial operations. Before joining Barron’s, Cho was business editor at The Washington Post. He has also worked for The Star-Ledger, The Philadelphia Inquirer and The Korea Herald.
CNBC was among the cable networks previously owned by NBCUniversal that were spun off into Versant, a new, stand-alone entity that debuted in public markets early in 2026. Versant is expected to unveil its first earnings report next week.
In recent months, CNBC has shed some of the glitzier programming it once featured in favor of content aimed at the stocks-and-bonds die-hards who come to it for the latest on the vicissitudes of the markets. In recent months, CNBC has launched a streaming product that makes both its U.S. and overseas programming available to subscribers and assigned one of its top producers to oversee the creation of new “verticals,” such wealth, women’s leadership and the business of sports.