CNN plans to reduce its workforce by about 100 employees and launch digital subscription products by the end of 2024 in a major restructuring, according to “The Wrap.”
In a memo to staff this week, CEO Mark Thompson, who took the helm in the fall of 2023, outlined his plans to layoff approximately 100 employees through job cuts and attrition. CNN currently has about 3,500 employees worldwide. He also announced that the network will combine three news divisions—US Newsgathering (TV), International Newsgathering (TV) and Global Digital News—into one unit, headed up by CNN veteran executive Virginia Moseley.
Also in the works, new subscription plans to be launched by the end of 2024 that will hopefully erase the memory of the network’s ill-fated CNN+ streaming service that was shut down less than a month after being launched in the spring of 2022, shortly after the merger of Warner Bros. and Discovery.
Although details have not been released. Thompson told staffers that “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. Video will be at the heart of our future and a re-imagined video experience on every platform–from pure digital to streaming, FAST channels and more – it is essential for CNN’s future.”
Alex McCallum, who left CNN after the failed launch of CNN+, returned to the network in January to head up digital products and services. Such streaming and on-demand programming—also available on WBD’s Max platform—will be developed and managed by a new “TV Futures Lab,” Thompson said in his memo.