CNN Lays Off 6% of Workforce, Unveils New Streaming Service and Digital Strategy
CNN is laying off approximately 200 employees, or 6% of its workforce, as part of a major overhaul of the news network. The layoffs are part of a larger effort to transform CNN’s digital presence and strategy.
The network’s CEO, Mark Thompson, announced that CNN will soon launch a new streaming service, as well as a redesigned digital footprint and new subscriber services. Thompson stated that CNN’s parent company, Warner Bros. Discovery, is investing $70 million in the network’s digital plans.
The new weekday lineup will include a revamped schedule, with shows such as Wolf Blitzer’s “Situation Room” moving to 10am-12pm and being co-anchored by Pamela Brown. Other changes include the addition of new shows at 6am, 4pm, and 5am.
The layoffs and changes are aimed at shifting CNN’s focus towards digital growth and adapting to changes in the way audiences consume news. Thompson wrote in a memo to staff that the goal is to “secure CNN’s future as one of the world’s greatest news organizations” and that the changes will bring “energy and competitive edge” to the network.
CNN has been working to revamp its news operation and has launched a paid subscription service, as well as a streaming service, CNN Max. The network has also announced plans to launch an additional streaming product, although details on the type of programming it will feature are not yet available.
The layoffs are part of a broader trend in the industry, as many news networks are dealing with declining viewership and revenue. In the past year, CNN has cut 100 employees, and the network’s parent company has been working to reorganize its operations and reduce costs.
