CNN slashes staff, executives depart

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CNN announced it would cut 400 jobs, one third of them in the interactive unit of the company. The expected restructuring comes following the completion of the AOL Time Warner merger, CNN's owner. The cuts in CNN's interactive unit come in CNN.com and CNNfn.com. Programming was also hard hit. Scott Woelfel, president of CNN Interactive, resigned, CNN said. Shelby Coffey III, president of CNN Business News and the financial-news channel CNNfn, also resigned to start a private foundation with his wife, CNN said. Ken Jautz, managing director of German news channel N-TV, will take over his responsibilities.

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