CNN to Cut 100 Jobs, Launch Digital Subscription Product by End of 2024

Jul 10, 2024, 04:14 PM

CNN is set to cut approximately 100 jobs, representing about 2.8% of its workforce, as part of a significant overhaul aimed at consolidating its news operations and bolstering its digital business. The network plans to launch its first digital subscription product by the end of 2024, a move designed to reduce its reliance on traditional cable TV revenue. CEO Mark Thompson announced the layoffs and restructuring in a detailed memo, highlighting a strategic push into artificial intelligence and the merging of CNN's television newsgathering and digital-news divisions into a single unit. This initiative is part of a broader effort to adapt to the declining cable broadcasting industry and enhance the network's digital footprint.