CNN Chief Announces About 3% Job Cuts, Digital Subscription Business

CNN Worldwide CEO Mark Thompson revealed measures which would be a “key milestone in the transformation of CNN”.

As part of the plan, CNN will lay off around 3 percent of its workforce, or about 100 employees, who would be eligible for severance packages. The media company has around 3,500 workers.

“CNN is one of the world’s most successful multi-platform global news brands, but we can’t thrive as a company unless we find new sources of revenue to offset the structural pressures on legacy income streams,” the CEO stated, as per The Hill.

Thompson also shared his plans about the digital subscription business, emphasizing that the products “will provide need-to-know news, analysis and context in compelling new formats and experiences.”

“We want to build on CNN.com’s reach with a new focus on engagement and frequency – how long our users spend with us and how often they return – by improving the quality of the product experience and giving users powerful reasons to come back to us more often,” the executive stated in his memo to employees.

The CEO aims to bring structural changes by unifying three divisions of CNN’s newsroom – US television, international television, and digital, under a single roof, CNN reports.

“Domestic and international news desks will retain their domestic and international specialisms for now, but will work more closely together, and come together to share resources for big breaking stories,” Thompson stated. “Those who previously worked as a digital news writer or editor, or news desk producer or editor, working in separate structures and performing often duplicative tasks, will join unified teams in the US and our main international hubs.”

Moreover, Thompson also shared his plans to utilize artificial intelligence tools to “determine how best to safely harness this emerging new technology to serve our audiences and deliver our journalistic goals more effectively and responsively.”

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