CNN is the latest company to cut jobs as employees have been notified of the upcoming layoffs

CNN’s top boss Chris Licht informed employees in a memo for all employees on Wednesday that layoffs were underway, according to a Reuters email.

Icht said the US broadcaster will notify a limited number of people, mainly some of its paid employees on Wednesday and affected employees on Thursday, according to the memo.

He said he would provide more details on the changes on Thursday afternoon.

“I know these changes affect both our outgoing and remaining colleagues,” Licht wrote. “And we have resources to support you.”

The job cuts were expected and come at a time when companies are trying to contain costs and reduce headcount to prepare for an economic slowdown.

In October, Licht had warned CNN of changes, citing “widespread concerns about the global economic outlook.” The changes would affect “people, budgets and projects,” Licht said.

Cable channel operator AMC Networks said Tuesday it would cut 20 percent of its US workforce as it faces industry pressures and a troubled economy.