Media and news company CNET just announced that it will eliminate 120 jobs, which is roughly 10% of its total staff, effective immediately. Supposedly it will help the company focus on long term growth, but there’s likely another, more relevant cause.
The cuts come amidst a scuffle at the board level, “hedge fund Jana Partners LLC won a key court ruling earlier this month that could help it take control of CNET’s board,” according to Reuters. Jana Partners wants to re-energize the company and boost profits.
These job cuts may be a reaction by the existing board, though so far it’s unclear how much the remaining workforce at CNET will suffer as their roles stretch to take on additional work.
“CNET has said it will appeal the March 13 ruling by the Delaware Supreme court that allowed Jana Partners and the rest of the group to nominate additional directors to the media company’s board.”
The company provides a variety of news through various web sites, but it has some especially notable podcasts, here’s a list from Wikipedia:
Buzz Out Loud
The Buzz Report
The Real Deal
The Queue (Discontinued after Rich DeMuro left CNET)
Tech and Politics Rundown
Gamespot UK Podcast
Crave UK Podcast
The Digital Home
I rely on many of these podcasts to keep in touch with what’s happening on the web and elsewhere so it will be with great interest that I wait to hear if any of them will be discontinued or taken over by different hosts.