CNN plans to cut scores of jobs as it goes through a major restructuring of its news-gathering operation and launches a digital subscription product later this year.
"CNN is one of the world’s most successful multi-platform global news brands, but we can’t thrive as a company unless we find new sources of revenue to offset the structural pressures on legacy income streams," CEO Mark Thompson wrote in a memo obtained by The Hill on Wednesday.
Thompson told staff that CNN has plans to "streamline" its story pitching, lean more heavily into video and monetize its digital users in a more effective way.
He said as part of the major revamp, the outlet would lay off more than 100 journalists across the company.
"Wherever possible, we’ve closed open positions rather than target currently occupied roles," he said. "However, some of our colleagues will learn today that their jobs are being eliminated or are at risk. The number of colleagues potentially impacted is around a hundred out of a workforce of more than 3,500, but I don’t underestimate the impact this news is likely to have on everyone affected and want to thank them for everything they’ve done for this great news company over the years."
Thompson also said the outlet would invest more in its free ad-supported streaming offerings in addition to rolling out the subscriber-based digital news product.
CNN last laid of dozens of employees late in 2022, as former President Chris Licht was retooling the newsroom and making major changes to its programming.
