Warner Bros. Discovery’s CNN is expected to have “hundreds” of staff layoffs as soon as Thursday, according to a report.
CEO Mark Thompson has reportedly been planning a corporate emphasis on digital subscription products.
During a recent town hall meeting earlier in January, Thompson announced that the company was investing “more than $70 million” in its digital efforts.
Last October, the company instituted a website paywall as it has been working to monetize its digital journalism.
The layoffs will likely be focused on off-camera production jobs, according to CNBC. Some jobs may shift from the New York or Washington bureaus to Atlanta in a consolidation of teams.
The network’s ratings significantly dropped since Republican President Donald Trump’s reelection in November and ended the year with the smallest audience in its history.
CNN’s jubilant New York Eve Live coverage normally attracts fans of hosts Andy Cohen and Anderson Cooper during their celebration in Times Square, but even that year-end broadcast saw a 20% year-over-year decline in ratings.
Last week, CNN settled a defamation lawsuit with security contractor Zachary Young after a Florida jury found that the network should pay him $5 million in damages for suggesting that he was charging “exorbitant prices” in helping evacuate people during the 2021 Afghanistan withdrawal.
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During the trial, a forensic economist revealed that the network had declined in revenue by $400 million over three years from 2021 to 2023.
The Washington Examiner reached out to CNN to comment.
