CNN plans to lay off hundreds of employees this week as part of a restructuring that prioritizes a global digital audience. The cuts will help reduce production costs and consolidate teams, with some shows potentially moving to Atlanta for cheaper production. While the layoffs will impact various departments, they are not expected to affect top-tier talent under contract. CNN has received a significant investment from Warner Bros. Discovery to support its digital growth, which will see the hiring of data scientists and product developers in strategic areas.
NBC News is also planning layoffs this week, although the scale will be much smaller than those at CNN . CNN plans to lay off hundreds of employees Thursday as it refocuses the business around a global digital audience, according to people familiar with the matter.The layoffs come as CNN is rearranging its linear TV lineup and building out digital subscription products.
Certain shows that are produced in New York or Washington may move to Atlanta, where production can be done more cheaply, said the people.For the most part, the job cuts won't affect CNN's most recognizable names, who are under contract, said the people. CNN has about 3,500 employees worldwide. During a town hall meeting earlier this month, CNN CEO Mark Thompson said the media company has received an investment of"more than $70 million" from Warner Bros. Discovery to help fund the company's digital operations. Part of that investment will go toward hiring employees in areas where CNN sees potential growth avenues, such as data scientists and product development.
Fanatics is opening first trading card store, in London, to give the sports collectibles a boost in Europe NBC News is also planning cuts later this week, according to people familiar with the matter. While the exact number couldn't be determined, the job losses will be well under 50, two of the people said.Both news organizations waited until after the U.S. presidential inauguration to make the cuts. The news media landscape is in transition as fewer people watch linear TV and more consume their news on streaming services and through social media.Disney, Fox and Warner Bros.
LAYOFFS CNN DIGITAL TRANSFORMATION MEDIA INDUSTRY WARNER BROS. DISCOVERY
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNN to lay off hundreds of employees as post-inauguration transformation begins, sources sayBoth CNN and NBC News are planning layoffs this week as newsrooms transition away from linear TV toward digital audiences.
Read more »
Frito-Lay Recalls Lay's Potato Chips Due to Potential Milk ContaminationFrito-Lay has issued a limited recall of Lay's Classic Potato Chips in certain states due to the presence of milk, posing a risk to individuals with milk allergies or sensitivities.
Read more »
Mark Zuckerberg plans to lay off an additional five percent of Meta's workforceLawrence is a contributing reporter at Engadget, specializing in our AI overlords, musical doodads and, of course, garden variety gaming and tech. To that end, Lawrence once lost badly in multiplayer Mario to Nintendo’s own Shigeru Miyamoto, who laughed gleefully as he threw him down a pit.
Read more »
FedEx Supply Chain to Lay Off Employees at York FacilityFedEx Supply Chain will lay off employees at its facility in York, Pennsylvania, due to a customer not renewing its contract. The company said it is providing support to affected employees, including helping them find other jobs within FedEx. Operations will continue at the facility for other customers.
Read more »
Washington Post to Lay Off 'Many Dozens' in Coming WeeksThe Washington Post is expected to lay off 'many dozens' of employees in the coming weeks, impacting business functions including sales, marketing, and information technology. The cuts will not affect the newsroom. This news follows reports of declining digital revenue and subscriber base, as well as an operating profit drop since the 2018 peak.
Read more »
Meta to Lay Off 5% of Workforce, Targeting Low PerformersMeta prepares for its largest layoffs since 2022, focusing on performance improvement and streamlining its workforce.
Read more »