CNN will cut 6% of its current workforce as part of CEO Mark Thompson‘s continuing efforts to build up the Warner Bros. Discovery outlet’s digital and broadband acumen as the audience flocking to its flagship cable network continues to wane.
Many of his plans, telegraphed in a series of memos over recent months, have been expected.
“Our objective is a simple one: to shift CNN’s gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN’s future as one of the world’s greatest news organizations,” Thompson said in a memo. “America and the world need high quality, fair-minded, trustworthy sources of news more than ever. This difficult and sometimes painful process of change is the only way to make sure we can still provide it.”
Thompson said CNN intended to unveil a new subscription-based streaming product Tthat would allow its users to “stream news programming from us on any device they choose. It’s early days but we’ve already established that there’s immense demand for it not just in America but across much of the world.” The service would be separate from what is available on the parent company’s Max streaming service, and evokes plans that NBCUniversal’s CNBC recently announced for a stand-alone service called CNBC+.
CNN will also be hiring, Thompson said, with new jobs expected to exceed overall losses. Headcount, ultimately, will not sink. “Recruiting the right people will take some time, but we hope to open up and fill at least 100 new posts in the coming months to help execute the new plans,” he said in his memo. In weeks to come, he indicated, CNN will launch its “first lifestyle-oriented digital product” and create “new premium digital ad experiences to drive sustainable and scalable advertising revenue.”
Yet that is probably of little comfort to staffers affected by Thursday’s announcement. There is an expectation that CNN will move many of its current TV production jobs to Atlanta, where salaries are cheaper and the company has longstanding facilities.
CNN is expected to announce changes to its TV schedule at some point on Thursday. Efforts to move different anchors have been active for days. Wolf Blitzer is expected to move to a mid-morning format, and there have been active negotiations about a potential new roost for morning anchor Kasie Hunt, according to people familiar with the matter.
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