TROUBLES: CNN CUTS 200 JOBS; PLANS STREAMING ROLLOUT
In a bid to cut costs and revamp its business model, CNN has announced that it will be laying off approximately 200 employees. The layoffs are expected to take place across various departments, including editorial, technical, and support staff.
The news comes as the company prepares to launch a major overhaul of its digital operations, which includes a shift towards a streaming-focused model. According to reports, CNN plans to debut a new streaming service, which will offer live and on-demand content to subscribers.
The layoffs are part of a broader effort by WarnerMedia, CNN’s parent company, to streamline its operations and reduce costs. In addition to the layoffs, WarnerMedia has also announced plans to merge its news division with that of its sister network, HBO.
The news has sparked concern among CNN employees, who are worried about the impact of the layoffs on the network’s operations and reputation. Some have taken to social media to express their frustration and disappointment, with many criticizing the decision as a sign of the company’s prioritization of profits over people.
The exact details of the layoffs, including the number of affected employees and the departments in which they will be laid off, have not been released. However, sources close to the company have indicated that the layoffs will be completed by the end of the year.
It remains to be seen how the layoffs and restructuring efforts will affect CNN’s overall performance and reputation. In the meantime, the network is likely to face significant scrutiny and criticism from both employees and viewers.