Sources reveal that CNN is planning to let go of hundreds of employees as part of its post-inauguration transformation.
- CNN is planning to lay off hundreds of employees this week.
- This week, NBC News will have smaller-scale layoffs compared to CNN.
- As fewer people tune in to cable and broadcast news, newsrooms across the U.S. are adapting their structures to better engage with digital audiences.
CNN is set to dismiss hundreds of staff members on Thursday as it shifts its focus to a global digital audience, sources reveal.
CNN is restructuring its TV lineup and expanding its digital subscription offerings, which will result in layoffs. The layoffs will help CNN reduce production costs and streamline teams, according to sources who requested anonymity to discuss confidential changes.
The production of certain shows in New York or Washington may be moved to Atlanta for cheaper production, according to the people.
CNN's most recognizable names, who are under contract, will not be affected by the job cuts, according to sources. CNN has approximately 3,500 employees worldwide.
In a town hall meeting held recently, CNN CEO Mark Thompson announced that the company has received over $70 million in investment from Warner Bros. Discovery to support its digital operations. This funding will also be used to hire staff in areas where CNN sees opportunities for growth, such as data scientists and product development.
In October, CNN introduced a digital subscription service, charging users $3.99 per month for heavier access to the site.
According to sources, NBC News is planning to make job cuts this week, with the number of layoffs expected to be less than 50.
Spokespeople for NBC News and CNN declined to comment.
The news media landscape is undergoing a shift as fewer individuals view traditional TV and more obtain their news through streaming services and social media.
Disclosure: NBCUniversal is the parent company of CNBC and NBC News.
Business News
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