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CNN is taking significant steps by letting go of hundreds of employees amid a landscape where its chief executive foresees “profound and irreversible shifts” in how viewers consume news. In a staff memo circulated on Thursday, CEO Mark Thompson disclosed that approximately 200 jobs, or about 6% of CNN’s workforce, will be impacted as the network experiences a steep decline in traditional cable TV viewership.
This wave of layoffs is part of a larger overhaul aimed at transitioning the media company into a new era beyond conventional television. Even though these job cuts are imminent, Thompson mentioned that the overall staff size is expected to remain stable. This stability comes from CNN channeling $70 million into its digital segment, with a goal of achieving $1 billion in revenue by 2030.
Among CNN’s digital ambitions is the creation of a streaming subscription service, mirroring the experience of traditional TV, which aims to reach audiences globally. By doing so, the organization hopes to counterbalance the dwindling interest in linear TV programming. The strategy includes developing hundreds of new roles, with the first batch of 100 positions set to be advertised and filled within the first half of 2025.
Thompson emphasized, “We’re dedicating funds not just to product and tech, but also to crafting new high-quality journalism and storytelling,” according to a memo shared with the Financial Times. Negotiations with distribution partners are underway, with plans to launch the streaming service by the end of the year.
Since becoming CEO in 2023, Thompson’s mission has been to turn around the fortunes of CNN, focusing heavily on digital expansion, especially as the industry grapples with the decline of traditional television. The network has found itself lagging in ratings compared to Fox News on the right and MSNBC on the left. This trend was starkly highlighted when only about 1.7 million households tuned in for Trump’s inauguration on CNN between 11:30 am and 1 pm on Monday—a stark decrease from the 10 million in 2021. In contrast, over 10 million viewers preferred Rupert Murdoch’s Fox News.
The overall viewership for Monday’s inauguration marked the lowest in a decade, with fewer than 25 million Americans watching Trump take the oath of office, compared to nearly 34 million who tuned in for Biden’s 2021 inauguration and 31 million for Trump’s 2017 ceremony, as per Nielsen data.
Thompson pointed out, “Today’s announcements are part of our ongoing response to the significant changes in how people all over the world consume news—from linear to digital, fixed to mobile, and traditional broadcasts to a variety of new formats and applications.”
He continued, asserting that this restructuring is essential to preserve CNN’s status as a leading global news organization, emphasizing that “high-quality, fair-minded, trustworthy news sources are needed more than ever.”
Additionally, Thompson revealed further reorganization efforts within CNN’s newsroom, after appointing Alex MacCallum, formerly of the New York Times, to spearhead the digital shift last year. In his memo, Thompson noted that MacCallum has already launched CNN’s inaugural direct-to-consumer subscription product, introduced video carousels on digital platforms, and revamped the CNN.com site.
Looking ahead, Thompson highlighted plans for enhancing digital video content, launching CNN’s premier lifestyle service, and rolling out a new premium digital advertising platform. He also announced adjustments and cost-saving strategies concerning the network’s domestic and international scheduling.
