CNN plans to cut hundreds of employees Thursday as it aims its coverage to more business matters, CBC Global reported, citing anonymous sources.
The cable news network also wants to expand its global digital presence.
In the end, the layoffs will help lower production costs as some shows will move from New York and Washington to Atlanta where shows are less expensive to produce.
The well-known newspeople will not be affected as they are under contract.
CNN employs about 3,500 worldwide.
The network received a “more than $70 million” boost from Warner Bros. Discovery, CNN CEO Mark Thompson announced in a town hall meeting in early January.
This will help in further developing its digital operations, such as hiring employees, including data scientists and product development.
Since October, CNN has been charging $3.99 per month for unlimited access.
CNN is not the only network cutting back on its workforce.
NBC News is also planning a layoff later this week, but will likely not exceed 50.
The timing of the layoffs is not unexpected since they are occurring after the U.S. presidential inauguration.
Fewer consumers are watching news programs on TV and are leaning towards streaming services and through social media.
Some took to X to express their opinions:
