CNN to chop 100 jobs in main overhaul to concentrate on virtual, memo presentations

Information outlet CNN will reduce about 100 jobs as a part of a plan to consolidate information operations and bolster its virtual industry, in line with an inner memo noticed by way of Reuters on Wednesday (Jul 10).

CNN will merge its news-gathering and virtual information groups, spend money on video operations and release pay-per-view information merchandise, CNN International CEO Mark Thompson advised team of workers within the memo.

“We’re construction a thousand million greenback+ virtual industry of the long run,” he mentioned within the memo.

The corporate expects to do away with about 100 jobs out of the three,500-person international team of workers, Thompson mentioned.

Thompson, a former New York Instances and BBC govt who took over as CNN’s CEO in October closing 12 months, is attempting to streamline the community’s operations and develop gross sales to counter falling TV viewership.

CNN will release a standalone subscription product for by way of the tip of this 12 months, the primary in a sequence of deliberate subscription choices, together with one that can center of attention on way of life and have content material.

The hole will create TV Long term Lab, a unit to supply content material for the Max streaming platform and package deal CNN’s TV content material for its virtual channels. CNN, which is owned by way of Warner Bros Discovery, began streaming content material on Max closing 12 months.

Thompson additionally detailed a number of adjustments to CNN’s editorial workflows, together with a centralised making plans and pitching procedure and a brand new “tale supervisor” function to run all sides of a tale from starting to newsletter or airing.

The memo mentioned Thompson will speak about the plan with the team of workers in a the town corridor assembly on Wednesday.

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