CNN will lay off nearly 6% of its overall workforce, approximately 210 people, as it refocuses the business on a worldwide digital audience, CNBC reported. In a memo to employees on Thursday, CNN CEO Mark Thompson said he didn’t expect total headcount to decline “much” this year because the company intended to invest $70 million in new digital initiatives.
“I know that whatever the total number of job losses, the impact on the individuals involved can be immense,” he wrote in the memo.
The layoffs come as CNN attempts to restructure its linear TV lineup and expand its digital subscription products. These cuts are part of a broader effort to reduce production costs and consolidate teams, according to the CNBC report, adding some shows may be relocated from New York or Washington to Atlanta, where production costs are lower.
The majority of the job layoffs will not affect CNN’s well-known employees, who are now under contract, the outlet reported citing sources. The Warner Bros. Discovery-owned network has around 3,500 employees worldwide.
The American news giant revealed multiple new initiatives in its memo. The company is developing a new option for digital users to stream CNN outside of CNN Max, which is available within Warner Bros. It is also planning to announce content details “in the coming months.”
In October, CNN established a digital paywall, charging heavier users $3.99 per month. The company aims to generate $1 billion in income by 2030.
Despite the job cuts, CNN plans to hire at least 100 new employees in the coming months to support its digital expansion. The news organisation is also revising its linear TV schedule in the United States and abroad.
In the summer of 2024, the news organisation cut around 3% of its workforce, 100 people, as it reorganised its newsgathering operation.
Among other news networks, NBC News is also reportedly planning job cuts, although the exact number is unclear. According to sources, the job losses are likely to be less than 50.
Earlier this month, The Washington Post said it would lay off about 4% of its workforce, or less than 100 employees, in an effort to slash costs as the organisation struggles with rising losses, Reuters reported.
Prior to this, the Associated Press in November stated that it would lay off approximately 8% of its workforce as it seeks to modernise its operations and products.
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