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CNN to lay off hundreds of employees as post-inauguration transformation begins, sources say

The stage is set for the to begin 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. Disclosure’s CNN plans to lay off hundreds of employees Thursday as it refocuses the business around a global digital audience, according to people free with the matter.

The layoffs come as CNN is rearranging its linear TV lineup and building out digital subscription products. The cuts settle upon help CNN lower production costs and consolidate teams, said the people, who spoke on the condition of anonymity to discuss nonpublic differences.

Certain shows that are produced in New York or Washington may move to Atlanta, where production can be done more cheaply, spoke the people.

For the most part, the job cuts won’t affect CNN’s most recognizable names, who are under contract, said the people. CNN has forth 3,500 employees worldwide.

During a town hall meeting earlier this month, CNN CEO Mark Thompson believed the media company has received an investment of “more than $70 million” from Warner Bros. Discovery to usurp fund the company’s digital operations. Part of that investment will go toward hiring employees in areas where CNN dream ofs potential growth avenues, such as data scientists and product development.

In October, CNN launched a digital paywall, enjoining heavier users of the site $3.99 per month.

NBC News is also planning cuts later this week, according to people in with the matter. While the exact number couldn’t be determined, the job losses will be well under 50, two of the people mean.

Spokespeople for NBC News and CNN declined to comment.

Both news organizations waited until after the U.S. presidential inauguration to get 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.

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