Warner Bros. Discovery’s CNN has announced a reduction of approximately 6% of its workforce, equivalent to around 210 employees, as part of its strategy to pivot towards a global digital audience. The job cuts were confirmed by CNN CEO Mark Thompson in a memo to staff, following reports by CNBC. Despite the layoffs, CNN anticipates that its total headcount will not decrease significantly this year due to a $70 million investment in new digital initiatives.
Thompson acknowledged the significant impact on affected individuals in the memo obtained by CNBC, emphasizing the necessity of change for future success while expressing regret for the human consequences. The restructuring includes adjustments to CNN’s linear TV programming and the development of digital subscription offerings to streamline production costs and team operations.
Notably, the layoffs are not expected to affect CNN’s prominent on-air personalities who are under contract. The network, with approximately 3,500 employees globally, aims to enhance its digital presence by introducing new streaming options for subscribers and investing in innovative journalism and storytelling. Additionally, CNN plans to introduce a lifestyle-oriented digital product as part of its expansion strategy.
In a bid to achieve $1 billion in revenue by 2030, CNN is implementing a digital paywall and intends to hire over 100 new employees to bolster its digital capabilities. The network is also revamping its TV schedule, introducing new morning shows and reshuffling existing programs to cater to evolving viewer preferences.
NBC News is also reportedly planning staff reductions, with the exact number of job losses expected to be minimal. Both CNN and NBC News delayed their restructuring announcements until after the U.S. presidential inauguration, reflecting the changing landscape of news consumption with a shift towards digital platforms and streaming services.
