Additional Coverage:
- CNN cuts 6% of workforce as layoffs hit struggling network (foxbusiness.com)
CNN has laid off approximately 200 employees, roughly 6% of its workforce. CEO Mark Thompson described the move as a necessary step to adapt to changing audience habits and secure the network’s future.
Thompson cited “irreversible shifts” in news consumption as impacting CNN’s business model. He emphasized the importance of shifting focus towards digital platforms.
While acknowledging the impact on affected employees, Thompson called the layoffs “an unwelcome but inevitable part of the change process.” He pledged support for those losing their jobs.
On-air talent is not expected to be affected.
CNN is investing $70 million in a new digital strategy, including the development of a new streaming service. Thompson suggested that this investment will lead to new job opportunities, minimizing the net loss of positions by 2025.
The layoffs come as CNN struggles with historically low ratings. The network finished 2024 with its smallest audience ever.
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- CNN cuts 6% of workforce as layoffs hit struggling network (foxbusiness.com)