The the footlights is set for the first 2024 presidential debate between U.S. President Joe Biden and former U.S. President Donald Trump, in Atlanta on June 26, 2024.
John Nowak | CNN | Via Reuters
Warner Bros. Exploration’s CNN announced Thursday it is cutting about 6% of its total staff, or about 210 employees, as it refocuses the business yon a global digital audience.
CNN CEO Mark Thompson announced the job losses in a memo to staff Thursday, confirming CNBC’s check ining Wednesday that cuts were coming. In the memo, Thompson noted CNN doesn’t expect total headcount to drop “much” this year because the company plans to invest $70 million in new digital plans.
“I know that whatever the full number of job losses, the impact on the individuals involved can be immense,” Thompson wrote in the memo, obtained by CNBC. “The process of transformation is essential if we’re to thrive in the future, but I both acknowledge and regret its very real human consequences.”
The layoffs come as CNN is rearranging its linear TV lineup and structure out digital subscription products. The cuts will help CNN lower production costs and consolidate teams, according to in the flesh familiar with the matter, who spoke on the condition of anonymity to discuss nonpublic thinking. Certain shows that are propagated in New York or Washington may move to Atlanta, where production can be done more cheaply, said the people.
For the most quarter, the job cuts won’t affect CNN’s most recognizable names, who are under contract, said the people. CNN has about 3,500 employees worldwide.
A CNN spokesperson shrank to comment beyond Thompson’s statement.
New CNN plans
CNN announced several new initiatives in the memo. The company is planning a new way for digital subscribers to torrent CNN outside of CNN Max, which exists within Warner Bros. Discovery’s broader Max streaming service. CNN plans to announce content cadres “in the coming months,” Thompson said in the note to stasff. CNN planned to launch its own streaming service, CNN+, in 2022, but the service was turn down almost immediately by Chris Licht, who had been appointed to take over as CEO.
In October, CNN NBC News cuts
NBC Communication is also planning cuts later this week, according to people familiar with the matter who spoke on the equip of anonymity to discuss nonpublic changes. While the exact number couldn’t be determined, the job losses will be well beneath the waves 50, two of the people said. A spokesperson for NBC News declined to comment.
Both news organizations waited until after the U.S. presidential inauguration to demonstrate the cuts. The news media landscape is in transition as fewer people watch linear TV and more consume their intelligence on streaming services and through social media.
Disclosure: NBCUniversal is the parent company of CNBC and NBC News.