In an endeavour to focus more on video operations and to get into digital subscriptions, CNN is letting go about 100 employees from its 3,500-strong workforce. The US-based media firm intends to merge its news-gathering team and digital news team. It will also introduce pay-walled content.
The switch to a digital strategy will witness CNN creating products in new formats, with an eye on monetization opportunities, such as new ads, sponsorships and direct-to-consumer subscriptions, say media reports.
Mark Thompson, CEO, CNN, has informed employees that the company is looking at restructuring its operations and wants to rely less on its cable news channel.
The job cuts will impact not more than three per cent of the workforce.
The last time CNN cut jobs was in November 2022.
A ‘gut punch’ is what Chris Licht, CEO, CNN had described the announcement of layoff plans at the time. Licht recently sent a memo to the employees on 30 November, describing how difficult a decision it was to let go many of the team members.
The news of the downsizing in 2022 did not really come as a shock because CNN had reportedly warned its staff in October 2022 itself to prepare for job cuts. The exact number of employees to be asked to leave was not officially revealed at the time. However, the paid contributors of the US news channel were most affected in that round of layoffs.
