CNN is cutting about 200 jobs as it focuses on a digital future, the network announced today, while its CEO Mark Thompson unveiled plans for a new subscription streaming service.
In a memo to staffers, Thompson wrote, “Our objective is a simple one: to shift CNN’s gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN’s future as one of the world’s greatest news organizations. America and the world need high quality, fair-minded, trustworthy sources of news more than ever. This difficult and sometimes painful process of change is the only way to make sure we can still provide it.”
The changes also include ones to its network’s schedule, with The Situation Room with Wolf Blitzer and Pamela Brown replacing Jim Acosta’s 10 a.m. show, and plans for a new morning show with Audie Cornish, according to The New York Times. It’s unclear what other role Acosta will take, but the network had previously offered him the midnight timeslot, likely meaning that he would have to move to Los Angeles.
The network also plans to launch a new subscription lifestyle product, as Thompson has previously signaled that CNN would put a greater emphasis on areas outside of political news.
The job cuts, about 6% of the workforce, are focused on its traditional linear TV, would be countered by a $70 million Warner Bros. Discovery investment in digital, with plans to hire 100 people in the first half of this year and more after that, Thompson told the Times.
In a memo to staffers, Thompson said, “Yes, there are job-losses – around 6% of the current CNN workforce will be impacted – but we don’t expect total headcount to fall much this year, if at all. That’s because of the $70 million we’re investing in our digital plans and the many new jobs it will pay for. Some of that money’s going in product and tech, but a lot is also going into new high-quality journalism and storytelling.”
More to come.
