CNN has announced plans to cut hundreds of jobs as the network\u2019s chief executive warned of significant and irreversible changes in how audiences engage with news, according to a report by The Financial Times.<\/p>\n
In a memo to staff on Thursday, CEO Mark Thompson revealed that about 200 positions, or roughly 6 per cent of CNN\u2019s workforce, would be eliminated due to the sharp decline in viewership of CNN\u2019s traditional cable TV offerings.<\/p>\n
The layoffs are part of a broader restructuring strategy as CNN looks to pivot away from traditional television. Despite the job cuts, Thompson noted that the overall workforce size would remain stable, as the company is investing $70 million into its digital business with hopes of reaching $1 billion in revenue by 2030, the news report said. <\/p>\n
Restructure for digital growth <\/p>\n
To offset the decline in traditional TV, CNN is focusing on building a TV-like streaming subscription service accessible on global devices. The company anticipates creating hundreds of new positions as part of this shift, with the first 100 roles expected to be posted and filled in the first half of 2025. <\/p>\n
\u201cSome of that money\u2019s going into product and tech, but a lot is also going into new high-quality journalism and storytelling,\u201d Thompson said in the memo, which was reviewed by The Financial Times. <\/p>\n
CNN is currently in discussions with distribution partners to launch the streaming service later this year. Thompson, who took over as CEO in 2023 with a mandate to revitalise the network, has made digital growth a central element of his strategy in response to the ongoing decline of traditional TV. <\/p>\n
Drop in viewership <\/p>\n
The network has faced tough competition in the ratings battle with Fox News and MSNBC, and this trend was evident during recent events. For example, CNN garnered only 1.7 million viewers during Donald Trump\u2019s inauguration on Monday, a significant drop from the 10 million viewers who tuned in for Biden\u2019s inauguration in 2021. In contrast, Fox News attracted over 10 million viewers. <\/p>\n
Monday\u2019s inauguration saw the lowest television viewership in a decade, with less than 25 million Americans watching Trump take the oath of office. This was a decrease from the 34 million who watched Biden\u2019s inauguration in 2021 and 31 million who viewed Trump\u2019s 2017 ceremony, the report said citing Nielsen data. <\/p>\n
Thompson emphasised that the restructuring is a necessary response to the major shifts in how audiences consume news, from traditional linear TV to digital and mobile platforms. He stated that the changes are essential for CNN\u2019s continued success as a leading global news organisation, the news report said. <\/p>\n
Organisational changes <\/p>\n
As part of the ongoing transformation, Thompson announced additional changes within CNN\u2019s newsroom, including the recruitment of Alex MacCallum, a former The New York Times executive, to oversee the transition to digital. MacCallum has already implemented several initiatives, such as launching CNN\u2019s first direct-to-consumer subscription product, creating video carousels on digital platforms, and revamping the CNN.com website. <\/p>\n
Thompson also highlighted future plans for expanding CNN\u2019s digital video offerings, launching a lifestyle-oriented service, and developing a new premium digital advertising platform. Additionally, the company plans further changes to both its domestic and international programming schedules as part of the ongoing restructuring efforts, the news report said.<\/p>\n","protected":false},"excerpt":{"rendered":"
CNN has announced plans to cut hundreds of jobs as the network\u2019s chief executive warned of significant and irreversible changes in how audiences engage with news, according to a report by The Financial Times. In a memo to staff on Thursday, CEO Mark Thompson revealed that about 200 positions, or roughly 6 per cent of CNN\u2019s workforce, would be eliminated due to the sharp decline in viewership of CNN\u2019s traditional cable TV offerings. The layoffs are part of a broader restructuring strategy as CNN looks to pivot away from traditional television. Despite the job cuts, Thompson noted that the overall […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-899576","post","type-post","status-publish","format-standard","hentry","category-broadcasting"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/899576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=899576"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/899576\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=899576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=899576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=899576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}