CNN International to lay off hundreds of employees: 'If we want to grow, change is inevitable'

US-based media organization CNN announced in a memo sent to its employees that it will terminate the employment of 210 staff members. This figure means that 6% of CNN's workforce will be laid off.

Newsrooms in the US have decided to change their broadcasting policies due to the fact that fewer and fewer people are watching cable television.

CNN, a subsidiary of Warner Bros. Discovery, announced on Thursday that it would lay off approximately 6% of its total staff, or 210 employees, in an effort to reorganize its operations for a 'global audience'.

CNBC reported on Wednesday that a large number of people in the US media industry could soon lose their jobs.

CNN CEO Mark Thompson announced the layoffs in a note sent to staff on Thursday.

CNN CEO Mark Thompson

TOTAL HEADCOUNT WILL NOT DROP MUCH 'THIS YEAR'

In the note he sent, Thompson stated that he does not expect CNN's total headcount to drop 'too much' this year. On the other hand, the company's CEO noted that he plans to invest 70 million dollars in 'new digital plans'.

The following statements were included in the note from Thompson published by CNBC:

''I know that whatever the total number of job losses, the impact on individuals can be immense. If we want to grow, the process of change is inevitable, but I both acknowledge and regret the 'extremely real' human consequences of this.''

The layoffs come as CNN creates new 'digital subscription products'. According to sources familiar with the matter, the layoffs will help CNN reduce production costs and consolidate teams.

It was stated that the vast majority of CNN's contract employees will not be affected by the layoffs. CNN has approximately 3,500 employees worldwide.

A CNN spokesperson confirmed that Thompson's statement was accurate but declined to comment further on the matter.

WHAT ARE CNN'S NEW PLANS?

In the note sent to his staff, Thompson said that CNN plans to announce its new plans in the 'coming months'.

CNN had planned to launch its own streaming service, CNN+, in 2022. However, the plan was canceled by Chris Licht, who was appointed CEO at the time.

In October, CNN launched an application that charges users visiting its website 3.99 dollars per month. The news organization aims to reach 1 billion dollars in revenue by 2030.

The US-based broadcaster will invest in 'new high-quality journalism and storytelling' in the coming months, in addition to investing in new products and technologies. A portion of this investment will go toward a 'lifestyle digital product' that CNN is developing.

News Source: 12punto