CNN to lay off hundreds of employees post-inauguration, sources say

Warner Bros. Discovery’s CNN plans to put off lots of of staff Thursday because it refocuses the enterprise round a world digital viewers, in response to folks aware of the matter.

The layoffs come as CNN is rearranging its linear TV lineup and constructing out digital subscription merchandise. The cuts will assist CNN decrease manufacturing prices and consolidate groups, mentioned the folks, who spoke on the situation of anonymity to debate nonpublic modifications.

Sure reveals which are produced in New York or Washington might transfer to Atlanta, the place manufacturing might be achieved extra cheaply, mentioned the folks.

For essentially the most half, the job cuts will not have an effect on CNN’s most recognizable names, who’re below contract, mentioned the folks. CNN has about 3,500 staff worldwide.

Throughout a city corridor assembly earlier this month, CNN CEO Mark Thompson mentioned the media firm has obtained an funding of “greater than $70 million” from Warner Bros. Discovery to assist fund the corporate’s digital operations. A part of that funding will go towards hiring staff in areas the place CNN sees potential development avenues, similar to information scientists and product growth.

In October, CNN launched a digital paywall, charging heavier customers of the positioning $3.99 monthly.

NBC Information can also be planning cuts later this week, in response to folks aware of the matter. Whereas the precise quantity could not be decided, the job losses will likely be nicely below 50, two of the folks mentioned.

Spokespeople for NBC Information and CNN declined to remark.

Each information organizations waited till after the U.S. presidential inauguration to make the cuts. The information media panorama is in transition as fewer folks watch linear TV and extra eat their information on streaming providers and thru social media.

Disclosure: NBCUniversal is the dad or mum firm of CNBC and NBC Information.