In a significant shake-up within the media industry, both CNN and NBC News are planning major employee layoffs. Following another year of diminishing viewership and increasing costs, CNN is set to lay off hundreds of employees this week, part of a strategic restructuring aimed at focusing more on a global digital audience. This organizational shift underscores CNN’s commitment to adapting to the changing media landscape, where digital platforms garner more attention than traditional broadcasts.
Mark Thompson, the newly appointed CEO of CNN, emphasized that these layoffs are necessary to align with the network’s digital strategy. “We’re evolving with our audience,” Thompson stated, highlighting the crucial need to lower production costs and consolidate teams to better compete. Interestingly, CNN launched a digital paywall in October 2024, charging heavy users a monthly fee of $3.99, in efforts to bolster digital revenue. The organizational changes underscore the network’s shift towards a digitally-oriented future.
NBC News is also planning layoffs this week, albeit on a smaller scale. Expected to impact fewer than 50 employees, these cuts coincide with their strategic realignment towards digital content and a broader audience. NBCUniversal, the parent company of NBC News, indicated that these layoffs are part of a broader effort to reallocate resources to future growth opportunities. Similar to CNN, NBC News is restructuring to meet the demand for digital news in an era when fewer people are tuning into traditional cable and broadcast.
Sources:
https://www.msn.com/en-us/money/companies/cnn-expected-to-announce-substantial-job-cuts/ar-AA1xGK8u
https://www.tvtechnology.com/news/survey-local-media-industry-bullish-on-digital-in-2025
https://www.cnbc.com/2025/01/22/cnn-to-lay-off-hundreds-of-employees-post-inauguration.html
https://x.com/GeneralMCNews/status/1882184140432576653
h/t MustRemainAnonlymous
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