CBS Cuts Jobs at CNET and Gamespot

By: John Lester
Published: Dec 14, 2008
Updated: Mar 19, 2010

CBS's interactive division will begin cutting jobs at its CNet Networks in San Francisco. The company purchased CNet in July for $1.8 billion.

CBS Interactive unit is slashing jobs at CNet in an effort to save costs. The company plans to cut jobs at its subsidiary companies including TV.com, MP3.com, CNET News.com an online gaming Web site Gamespot.com.

"Our Technology & News division will bring CBSNews.com and CNET News.com into a single CBS Interactive News Group. Each site will maintain its own brand identity, while benefiting from shared resources in design," CBS Interactive said in a statement.

CBS plans to eliminate duplicate jobs in an effort to save costs. Portions of CBS Interactive and CNet will be combined into groups sharing similar online content.

CNet was purchased by CBS for $1.8 billion in July. The company has been battling debt ever since. Several employees who thought they would become rich from the acquisition lost their job within a week before Christmas. These are serious times in the United States.

The technology sector is bleeding from the current global economic recession. Yahoo Inc also cut jobs this past week. Sun Microsystems recently cut 6,000 jobs, and Sony slashed 8,000 jobs earlier in the week.