News outlet CNN will cut about 100 jobs as part of a plan to consolidate news operations and bolster its digital business, according to an internal memo on Wednesday. CNN announced layoffs eliminating approximately 100 jobs in continued signs of upheaval for the media business.
CNN said it plans to debut its first digital subscriptions before the end of the year as the news network leans into reshaping its business. The network’s plans for digital subscription were outlined in a memo. The memo sent to staff on Wednesday by CNN CEO Mark Thompson.
CNN layoffs
Thompson said that the 100 layoffs come out of a total workforce of around 3,500 people. He said that open roles at CNN were closed wherever possible in order to minimize the total layoffs.
Media organizations including CNN have struggled to grow audiences and revenue, and have sought to diversify what they’re offering to customers.
CNN’s strategy with digital focus
Thompson said that CNN’s digital strategy must be “ambitious enough to deliver the audiences and the revenue we need to maintain our unique journalistic firepower and succeed as a business.”
CNN will merge its news-gathering and digital news teams, invest in video operations and launch pay-per-view news products, CNN Worldwide CEO Mark Thompson told staff in the memo.
“We are building a billion dollar+ digital business of the future,” he said in the memo.
CNN’s digital subscription
The executive said CNN will create subscription-ready products that offer news, analysis and context in new formats. Emphasizing there will be an effort to keep users on CNN.com’s website longer. Also, finding ways to get them to return more.
While CNN’s digital products have primarily focused on text articles, now more video content will be provided.
“In the future our digital products need to do a far better job of reflecting CNN’s massive strength in video and anchoring/reporting talent,” Thompson said.
CNN looking for monetization
The organization is also going to develop more “news you can use” for its audience, with lifestyles and features content. These products will provide the company with various monetization opportunities, including sponsorships, new advertising and direct-to-consumer subscription.
CNN will also be pushing more into AI, seeing how it can safely use the technology to serve its audience.
CNN’s CEO Mark Thompson.
Thompson, a former chief executive of the BBC and The New York Times, was named as the head of CNN in August 2023. He took over the role in October. He replaced Chris Licht, who was fired in June of that year. Thompson was credited with helping the Times transition to a digital-first organization. It was more dependent on paid subscribers than the collapsing advertising market that has doomed many newspapers.
In January Thompson outlined a strategy to his staff that included a “drastic modernization” of the CNN.com website.
