CNN is laying off 6% of its workforce, or roughly 200 staffers, as the cable network aims to transform its newsroom into a digital-first operation.
CNN parent company Warner Bros. Discovery (WBD) plans to invest $70 million into the network’s revamp, which includes a new direct-to-consumer streaming product and a focus on premium digital ad experiences. CNN also plans to refresh its website, undergo a major pivot into digital video, and launch a first-of-its-kind lifestyle-oriented digital product.
CNN CEO Mark Thompson said in a staff memo obtained by Yahoo Finance that jobs will be added as part of the effort and that despite the job cuts, the network doesn’t expect headcount to decline much this year.
“Our objective is a simple one: to shift CNN’s gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN’s future as one of the world’s greatest news organizations,” Thompson said.
