Source: The Washington Post / Getty
CNN is embarking on a massive round of job cuts, citing a new restructuring plan by its CEO to focus on a digital-based future.
According to reports, CNN has announced its plans for massive layoffs within the company. The news was delivered to employees in a memo from CEO Mark Thompson Thursday (Jan. 23), in advance of the network restructuring to be better modernized for a digital-based audience. It comes a year after the network, which is owned by Warner Bros. Discovery, already enacted a round of layoffs leading to the exit of 100 employees. That represented 2.9% of the 3,500-member worldwide workforce at the time.
“I know that whatever the total number of job losses, the impact on the individuals involved can be immense,” Thompson wrote in the memo. “The process of change is essential if we’re to thrive in the future, but I both acknowledge and regret its very real human consequences.” CNN is laying 200 people, representing a cut of 6% to its workforce. The layoffs will not affect the network’s more recognizable names, as they are under contract.
Former Fox News host Chris Wallace and Alysin Camarota, who were prominent figures on CNN, recently left after their contracts expired.
The restructuring plan includes a goal to reach $1 billion in revenue by 2030. Part of that plan is to hire at least 100 people in the upcoming months to build a stronger digital presence focused on “new high-quality journalism and storytelling.” This will also include work on a “lifestyle-oriented digital product” in development by CNN. It follows the company installing a digital paywall on its website for the first time for consistently heavy users, who can access it at a monthly price of $3.99.
One outspoken opinion on the move was expressed by President Donald Trump, who mentioned it while bashing the MSNBC network on his Truth Social media platform Wednesday evening (Jan. 22): “MSDNC is even worse than CNN. They shouldn’t even have a right to broadcast — Only in America!”
