CNN is announcing layoffs as part of a further shift to digital business
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CNN expects to lay off about 200 people as part of a restructuring announced on Thursday that pivots the news organization toward a more digitally oriented future. The company's CEO, Mark Thompson, said he expects the job cuts in CNN's television business to eventually be offset by new hires for the digital plans, which include a series of subscription products.
Thompson has been signaling the move ever since taking over at CNN more than a year ago. The network's ratings have been tumbling, particularly after President Donald Trump's election. “Our objective is a simple one: to shift CNN's gravity towards the platforms and products where the audience themselves are shifting,” Thompson said in a memo to CNN staff.
Thompson said the goal is to develop a way for digital subscribers to stream news programming on any of their devices. Corporate parent Warner Bros. Discovery is kicking in $70 million to implement the new plans, he said. CNN is also planning to announce changes to its television lineup, expected to include a move of Wolf Blitzer to a morning show.
