Warner Bros. Discovery’s CNN Plans to Lay Off Hundreds of Employees as It Refocuses on Digital Audience
The stage is set for the first 2024 presidential debate between US President Joe Biden and former US President Donald Trump, taking place in Atlanta on June 26.
In related news, Warner Bros. Discovery’s CNN is planning to lay off hundreds of employees on Thursday as it refocuses the business around a global digital audience. The layoffs are part of a plan to lower production costs and consolidate teams, sources familiar with the matter said.
The cuts will not affect CNN’s most recognizable names, who are under contract, and will help the network to reallocate resources to build out digital subscription products, according to sources. CNN has about 3,500 employees worldwide.
As part of its refocusing efforts, CNN is rearranging its linear TV lineup and building out digital subscription products. Some shows produced in New York or Washington may be relocated to Atlanta, where production can be done at a lower cost.
The job cuts are part of a broader strategy to reposition CNN for the digital age. Earlier this month, CNN CEO Mark Thompson announced that the media company had received an investment of over $70 million from Warner Bros. Discovery to help fund its digital operations. The investment will also be used to hire employees in areas such as data scientists and product development.
Separately, NBC News is also planning to cut jobs, with sources saying the number of layoffs will be under 50. Spokespeople for NBC News and CNN declined to comment on the matter.
