The redundancies are set to come amid a shift in focus to the global digital audience, CNBC has reported
CNN is planning to axe hundreds of its 3,500 workforce as soon as Thursday, as the US media multinational eyes reorientation towards global digital audiences, people familiar with the matter have told CNBC.
The unit of Warner Bros Discovery is reportedly rearranging its TV production while expanding digital subscription offers. The layoffs are projected to help the news organization reduce production costs and consolidate teams, CNBC claimed on Wednesday, citing anonymous sources.
The cuts are not expected to affect the CNN’S most recognizable names, the sources said, adding that several shows that are currently produced in New York or Washington could move to Atlanta amid cost reduction.
The multinational introduced a digital paywall last October, when it began charging a monthly fee of $3.99 from its frequent users.
NBC News, owned by Comcast, the world’s fourth-largest broadcaster by revenue, is also planning job cuts this week, CNBC noted, citing sources familiar with the situation, who specified that the layoffs will be well under 50 staff.
READ MORE: Washington Post web traffic plummets nearly 90% – media
CNBC noted that the current news media landscape is in transition as watching linear TV is becoming less popular, with more people consuming their news on streaming services and through social media.
The Washington Post announced earlier this month that it would dismiss around 4% of its workforce, or fewer than 100 employees, in an effort to reduce costs, as the newspaper struggles with increasing losses. In November, the Associated Press announced plans to slash some 8% of its workforce as the news agency seeks to update operations and products.
